Oil Edges Higher on Upbeat Chinese Economic Data and Rising Geopolitical Risk
OPEC crude oil production capacity has expanded for two consecutive months, with the narrative of 'overcapacity' sweeping the oil market.
In November, the daily production increased by 0.12 million barrels; under pressure from allies, Iraq has been reducing production for three consecutive months.
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citic sec: The new and old energy policies and impacts under 'Trump's return'.
It is expected that Trump will continue to emphasize traditional energy as the core in his new term, aiming to achieve the two major goals of "unleashing us energy" and "lowering energy prices".
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Crude oil: Oil prices fell in light trading as OPEC+ production increase plans face uncertainty.
Due to the uncertainties surrounding the OPEC+ production plan and the Israel-Hezbollah ceasefire agreement, crude oil futures declined in light trading after the holiday.
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A judge in the usa ruled that the shutdown of Exxon Mobil's (XOM.US) refinery in Texas is legal.
The judge supported exxon mobil in the ruling on November 21.
Trump's tariff plan angers many? US oil industry warns: rbob gasoline costs rise exacerbating consumer burden
① President-elect Trump of the usa threatens to impose a 25% tariff on products from Mexico and Canada, causing concerns in the oil rbob gasoline industry; ② U.S. refineries highly rely on crude oil imports. The American Petroleum Institute warns that tariffs will raise refining costs and gasoline prices, exacerbating consumer burden; ③ Analysts believe the likelihood of Trump implementing the tariff plan is small.
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