Tuesday , December 1 2020

Crudo accumulates losses of 17% in the last month



The oil prices At the international level, they fell between 16 and 19 percent last month in response to fears about global supply and demand for energy.

Crude VTI References in Texas dropped 1.41 percent to $ 62.21, while Brent London fell 1.42 percent to $ 72.13 per barrel.

According to information from Bloomberg, American cheeses are accumulating in just over a month, from their last peak, a loss of 19 percent, while the decline of a European referent is 16.75 percent.

With these movements, the oil is near at least seven months, according to the scenario in which The United States is increasing its production and records a large stock accumulation.

The US Oil Institute (API for his acronym in English) in his weekly report pointed out that US stocks would increase by 7.83 million barrels last week. If this number is confirmed by the Energy Information Agency (AIE) during half-day operations, then it would become the largest accumulation in the last five weeks, and will be over two million barrels for which analysts expect an increase in inventories.

"If the AIE confirms this accumulation, it could lead to lower prices," said Kyle Cooper, director of research at IAF Advisors. "That would mean that the bottom was not touched."

Pads close to 20 percent since the last peak, marking the maximum of the last four years, are also bearish signs, in the midst of market concerns such as Iran i Venezuela.

On the other hand, declines in financial markets fell yesterday, after the exceptions of the United States.

On Monday, Washington approved 180 days of exemption of eight Iranian oil importers: China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey. This group carries up to 75 percent of marine oil exports in Iran, according to data on trade, which means Tehran will be able to export some oil for now.

MIKSED MIKS IN THE LOV

Mexican oil was not aware of declines in international prices. On Monday, Mexican blend of exports That was $ 67.04 per barrel, the lowest since September 9th. On Tuesday, he did not have a quote.

Since October 3, when it touched a maximum of four years at $ 77.80, to date, the decline was 13.75 percent.

The price of a Mexican oil bubble becomes relevant as the date of delivery Budget 2019 the incoming administration of Andres Manuel Lopez Obrador.

For now, the current level opens up the possibility that the average price being considered for budgeting is higher than $ 48.5 per barrel used to produce this year, but it would be considered not to be diminished anymore

So far this year, the average price of the blend is trade at $ 63.30, which, according to experts, would be a level similar to what they would consider in the budget.

If so, the average oil price would be highest than the one used to prepare the 2015 Budget, from $ 79 per barrel. In 2016, 2017 and 2018 the average price was 50.46 and 48.5 dollars per barrel.

With information from Abraham Gonzales and Bloomberg

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