Oil prices are surging ahead of OPEC meeting. Here's why
Oil prices are surging ahead of OPEC meeting. Here's why
-- Al Root
--Al Root
Who's afraid of OPEC? Not oil traders.
谁会害怕欧佩克？不是石油交易商。
OPEC officials meet today to discuss output, and nearly everyone seems to believe that production increases are coming. Benchmark oil prices are up about 1.9% anyway, after gaining 54% during the first half of 2021.
OPEC官员今日开会讨论产量，几乎所有人似乎都认为即将增产。基准油价在2021年上半年上涨54%后，无论如何都上涨了约1.9%。
Surging demand was the story of the first half of 2021. The global economy has done better than almost anyone expected coming out of the public health crisis-induced recession of 2020, pushing up the price of oil and other commodities.
需求激增是2021年上半年的故事。从2020年公共卫生危机引发的衰退中走出来的全球经济表现好于几乎所有人的预期，推高了石油和其他大宗商品的价格。
Supply stands to be the story of the second half of 2021. Investors and traders can expect more production of everything as companies try to take advantage of rising prices. But will it be enough to overwhelm demand?
供应将是2021年下半年的故事。投资者和交易员可以预期，随着企业试图利用价格上涨的机会，各种产品的产量都会增加。但这是否足以压倒需求呢？
Unlikely. OPEC is currently pumping roughly about 25 million barrels of oil a day, down from about 30 million a day before 2020. Globally, oil producers, including OPEC nations, are pumping about 74 million barrels a day, down from about 82 million before 2020.
不太可能。欧佩克目前的石油日产量约为2,500万桶，低于2020年前的约3,000万桶。在全球范围内，包括欧佩克国家在内的产油国的日产量约为7400万桶，低于2020年前的约8200万桶。
That 8 million barrel a day gap between pre- and post-2020 production is a big reason traders aren't that nervous about the July OPEC meeting.
2020年前和2020年后的日产量差距为800万桶，这是交易员对7月份的欧佩克会议不那么紧张的一大原因。
The world could use the oil.
世界可以使用这些石油。
-- Al Root
--Al Root
(END) Dow Jones Newswires
(完)道琼通讯社
July 01, 2021 07:56 ET (11:56 GMT)
美国东部时间2021年7月1日07：56(格林尼治标准时间11：56)
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