U.S. wants more oil, but OPEC+ can't turn on the tap much harder

StreetInsider2021-11-23

LONDON (Reuters) - U.S. pressure on OPEC+ to pump more oil and cool red-hot crude prices has shone a spotlight on a relatively new problem for the producer group: it doesn't have much extra capacity ...

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精彩评论

Dawang
2021-11-23
Dawang
Production Capacity also requires some time to gain momentum. They think itz akin to fast food.. want cheap, want fast, want aplentiful. When demand suddenly fivefold, supply cannot keep up, what happens??
KLS
2021-11-23
KLS
Buy
BigThumb
2021-11-23
BigThumb
Possibly of a oil price spike [Speechless]
- BigThumb:
  [Smart]
- CPCat:
  does this mean oil majors will go up?
- 小虎投资123:
  ok
THB
2021-11-23
THB
[Cry]

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The group agreed to sweeping cuts of about 10 million bpd, or a record 10% of global supply.\nAs demand has rebounded faster than many expected, President Joe Biden's administration has repeatedly pressed OPEC+ for more supply, fearing high crude prices - Brent is up more than 50% so far this year - could choke a global recovery.\n\"OPEC+ remains deaf to political pressure to accelerate supply increases,\" Energy Aspects said.\nUnable to persuade OPEC+ to pump more and facing low approval ratings ahead of next year's mid-term congressional elections, Biden has asked China, India, South Korea and Japan for a coordinated oil stocks release.\nYet such a move is complicated by the mandate of the Paris-based IEA, which represents industrialised nations. Under its rules, reserves should be released to cope with shocks, such as wars or hurricanes, not to correct prices.\n\"A (stocks) release would only provide a short-term fix to a structural deficit and would create clear upside risks to our 2022 price forecast,\" Goldman Sachs wrote.\nAlthough higher crude prices could help push up supply, it said investment was being hampered by environmental, social and governance (ESG) concerns and worries about global warming, with banks charging more on loans for oil than green projects.\n\"The damage to investors caused by oil producers' capital destruction over the last seven years is now compounded by ESG allocation inefficiencies,\" Goldman said.\nAccording to its schedule for unwinding output curbs, OPEC+ will officially have 3.8 million bpd of cuts in place as of Dec. 1. 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Russian producers such as Gazprom Neft said they have struggled to produce more.\nThe U.S. oil shale industry, which has in recent years turned the United States from a net crude importer to an exporter, might help ease price pressures by hiking output.\nBut upside price risks remain, Russell Hardy, the head of one of the world's biggest oil traders Vitol, told a Reuters summit this month: \"The possibility of a spike to $100 per barrel is clearly there.\"","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":875523659,"gmtCreate":1637671543923,"gmtModify":1637671544586,"author":{"id":"3579482809178950","authorId":"3579482809178950","name":"Dawang","avatar":"https://static.tigerbbs.com/d0f01f2346125f600328ffd48beb3a4c","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3579482809178950","authorIdStr":"3579482809178950"},"htmlText":"Production&nbsp;Capacity also requires some time to gain momentum. They think itz akin to fast food.. want cheap, want fast, want aplentiful. When demand suddenly fivefold, supply cannot keep up, what happens??&nbsp;","listText":"Production&nbsp;Capacity also requires some time to gain momentum. They think itz akin to fast food.. want cheap, want fast, want aplentiful. When demand suddenly fivefold, supply cannot keep up, what happens??&nbsp;","text":"Production Capacity also requires some time to gain momentum. They think itz akin to fast food.. want cheap, want fast, want aplentiful. When demand suddenly fivefold, supply cannot keep up, what happens??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/875523659","repostId":2185801154,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":875255329,"gmtCreate":1637661177155,"gmtModify":1637661321487,"author":{"id":"3551655093075927","authorId":"3551655093075927","name":"KLS","avatar":"https://static.tigerbbs.com/60fe00969bbce4cfecf0d17a38c77628","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3551655093075927","authorIdStr":"3551655093075927"},"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/875255329","repostId":2185801154,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":875213700,"gmtCreate":1637656528848,"gmtModify":1637656769780,"author":{"id":"3581996485604595","authorId":"3581996485604595","name":"BigThumb","avatar":"https://static.tigerbbs.com/d9366427dbceb4a03b5342d31b6c3aaa","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581996485604595","authorIdStr":"3581996485604595"},"htmlText":"Possibly of a oil price&nbsp;spike&nbsp;[Speechless]&nbsp;","listText":"Possibly of a oil price&nbsp;spike&nbsp;[Speechless]&nbsp;","text":"Possibly of a oil price spike [Speechless]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/875213700","repostId":2185801154,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6704635,"gmtCreate":1637736990742,"gmtModify":1637736990772,"authorId":3581996485604595,"author":{"id":3581996485604595,"idStr":"3581996485604595","authorId":3581996485604595,"name":"BigThumb","avatar":"https://static.tigerbbs.com/d9366427dbceb4a03b5342d31b6c3aaa","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":875213700,"type":1,"supId":6692178,"prevId":0,"content":"[Smart]","text":"[Smart]","html":"[Smart]"},{"id":6692178,"gmtCreate":1637662333476,"gmtModify":1637662333509,"authorId":3582520228861009,"author":{"id":3582520228861009,"idStr":"3582520228861009","authorId":3582520228861009,"name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":875213700,"type":1,"supId":0,"prevId":0,"content":"does this mean oil majors will go up?","text":"does this mean oil majors will go up?","html":"does this mean oil majors will go up?"},{"id":6691418,"gmtCreate":1637657141314,"gmtModify":1637657141426,"authorId":3572736965372170,"author":{"id":3572736965372170,"idStr":"3572736965372170","authorId":3572736965372170,"name":"小虎投资123","avatar":"https://static.tigerbbs.com/306219307a94107db11a1de008b9af5f","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":875213700,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"}],"langContent":"CN"},{"id":875233884,"gmtCreate":1637655209501,"gmtModify":1637655209599,"author":{"id":"3582189889665842","authorId":"3582189889665842","name":"THB","avatar":"https://static.tigerbbs.com/714f3e61faee0b8a2ef01897bed9705d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582189889665842","authorIdStr":"3582189889665842"},"htmlText":"[Cry]&nbsp;","listText":"[Cry]&nbsp;","text":"[Cry]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/875233884","repostId":2185801154,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":42,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2185801154"}