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.
誰會害怕歐佩克？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官員今日開會討論產量，幾乎所有人似乎都認為即將增產。基準油價在2021年上半年上漲54%後，無論如何都上漲了約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。從2020年公共衞生危機引發的衰退中走出來的全球經濟表現好於幾乎所有人的預期，推高了石油和其他大宗商品的價格。
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?
供應將是2021年下半年的故事。投資者和交易員可以預期，隨着企業試圖利用價格上漲的機會，各種產品的產量都會增加。但這是否足以壓倒需求呢？
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。歐佩克目前的石油日產量約為2,500萬桶，低於2020年前的約3,000萬桶。在全球範圍內，包括歐佩克國家在內的產油國的日產量約為7400萬桶，低於2020年前的約8200萬桶。
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年後的日產量差距為800萬桶，這是交易員對7月份的歐佩克會議不那麼緊張的一大原因。
The world could use the oil.
世界可以使用這些石油。
-- Al Root
--Al Root
(END) Dow Jones Newswires
(完)道瓊通訊社
July 01, 2021 07:56 ET (11:56 GMT)
美國東部時間2021年7月1日07：56(格林尼治標準時間11：56)
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