US oil and gas reserves have shrunk considerably and the offshore oil and oil products market is buoyed by the news.
The price of oil should open higher on Monday (28), given the news of the reduction in US reserves of oil, gasoline, gas and derivatives, which fell last week in the US. This situation brought optimism to investors in the offshore market, who expect a recovery in the consumption of oil, gas and derivatives next year.
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Right after a troubled start to the week, taking special advantage of the reduction in US reserves of oil, gas and derivatives, the offshore market is in good spirits.
According to EIA data, US reserves retreat and offshore market investors are optimistic
The allusion contracts had lost a good part of the important profits recorded since the beginning of November. US oil and gas reserves have declined, according to data in a report by the EIA – US Agency for Energy Information.
Such data gave a dose of encouragement to investors in the offshore market, who expect a recovery in consumption next year, after having suffered a setback in 2020, as a result of the pandemic and the limitation of travel. Indicators begin to show firmer activity.
In addition, new air can be expected in the geopolitical scene for the year 2021, according to experts. The new US administration, due to take office at the end of January next year, could adopt a more peaceful tone with Iran, and thus ease its economic sanctions, which would allow Tehran to sell more barrels. in the international market.
