On May 7th, the price of WTI crude oil exceeded the $ 70 mark, reaching its highest level since November 2014! At the same time, the price of Brent crude oil also maintained at a high level of $ 75!

  Rising oil, the Iran nuclear deal!

  In January 2018, U.S. President Donald Trump announced that he would waive the "last" extension of sanctions on the Iranian nuclear issue until May 12, and set that date as the deadline for amending the Iranian nuclear agreement, and threatened that by then Without a satisfactory plan to amend him, the United States will withdraw from the Iran nuclear agreement. Since taking office in January 2017, Trump has repeatedly claimed that the Iranian nuclear agreement is the "most lossy agreement in the United States" with "catastrophic flaws" and has continuously released signals to withdraw from the Iranian nuclear agreement.

  Iran is the third largest oil producer in OPEC and the fifth largest oil producer in the world. Iran's current oil production is relatively stable, producing about 3.8 million barrels per day. After the gradual lifting of international sanctions against Iran in 2016, Iran gradually resumed oil exports and economic growth.

  Oil service companies are picking up!

  As a barometer of the oil market, oil service companies can most intuitively reflect the development of the oil industry!

  In the just-released first-quarter report of 2018, Sinopec Oil Services announced that in the first quarter, operating income reached 10.268 billion yuan, with a net profit of 30.129 million yuan, successfully turning losses into profits.

  The international oil service giants have also started profit models:

  Schlumberger made a profit of US $ 525 million in the first quarter, which was a year-on-year increase, and its profit increased by 88% year-on-year.

  Halliburton's net profit in the first quarter reached 46 million U.S. dollars, which was a year-on-year turnaround, and revenue for the quarter reached 5.74 billion U.S. dollars, a 34% year-on-year increase.

  GE Baker Hughes' revenue in the first quarter reached $ 5.4 billion. Although it lost $ 41 million, it was down 63% from the previous quarter.