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Russia's price war took effect, five US oil and gas companies closed down, and exports to my country soared by 31%

Russia's price war took effect, five US oil and gas companies closed down, and exports to my country soared by 31%

(Summary description)On April 27, Diamond Subsea Drilling Company declared bankruptcy. The fall of this old American offshore drilling company also proved how serious the oil crisis the United States is experiencing.

Russia's price war took effect, five US oil and gas companies closed down, and exports to my country soared by 31%

(Summary description)On April 27, Diamond Subsea Drilling Company declared bankruptcy. The fall of this old American offshore drilling company also proved how serious the oil crisis the United States is experiencing.

Information

  On April 27, Diamond Subsea Drilling Company declared bankruptcy. The fall of this old American offshore drilling company also proved how serious the oil crisis the United States is experiencing. In fact, count the well-known American shale oil companies that fell before. In just one month, Whiting Petroleum and other companies have closed five oil and gas companies in the United States.

  A Norwegian energy consulting agency (Rystad Energy) stated that when oil prices fall to US$20, 533 US oil exploration and production companies may go bankrupt in 2021. When oil prices fall to US$10, 1100 shale oil companies may go bankrupt. crisis.

  Some analysts believe that Russia’s price war has achieved results. After it started a price war with OPEC, it encountered a virus outbreak. For a time, international oil prices plummeted and the United States, a major oil producer, suffered heavy losses, but Russia quickly Occupied the Chinese market. Under the double blow of low international oil prices and the virus, the United States has to seek a broader market to rescue its failing companies.

  U.S. oil producers are looking for new buyers (a lot of oil was exported to China before), and the White House also understandably liberalized some policies so that U.S. companies can seek Eastern markets as much as possible. In fact, US oil companies have already opened the Chinese market. On April 25, some media exposed that an American tanker (AlaskanNavigator) loaded with crude oil was sailing from Alaska to Qinhuangdao, China. Obviously, the U.S. hopes that Chinese buyers can alleviate the country’s ongoing crisis. The U.S. energy sector has also actively talked to the Chinese side, hoping that China, which has a strong purchasing power, can increase the scale of crude oil purchases, implying that it can buy as much U.S. as possible. oil.

  In fact, China, which itself is a major energy importer, has indeed increased its oil imports recently. Imports in March exceeded 41.1 million tons, a year-on-year increase of 4.5%, which to a certain extent brought vitality to the international market. Among them, the United States can occupy a small share, especially in the temptation of low prices in Russia. Last year, the price of oil sold by Russia to China was cheaper than that of Saudi Arabia. Each barrel was 2 dollars cheaper, so Russia's crude oil exports to China soared to 31% against the trend! Now that the United States wants to enter the Chinese market and grab more benefits, I am afraid it has to make more efforts.

  (From China Energy Network)

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