Oil Price Situation Analysis Unit, Thai Oil Plc., Oil Price Situation Report 29 September 2021
– West Texas and Brent crude prices fell. After the market is worried about the energy crisis. and the closure of factories in China due to the shortage of coal for the industry amid tighter emissions controls This could put pressure on economic activity and oil demand.
+ Crude Oil Producing Countries or OPEC Plus Oil demand is forecast to recover above pre-COVID-19 levels in 2023 at 101.6 million barrels per day. Amid the current OPEC Plus group is still struggling to increase production enough to support the recovery in oil use. Due to recent maintenance shutdowns and limited investment
+ U.S. crude production remains limited due to the impact of Hurricane Ida and Nicholas that swept through the Gulf of Mexico since the beginning of this month. resulting in the infrastructure Crude oil pipelines and production processes were damaged, damaged and production had to be stopped.