International oil prices approaching $100! The United States is not in a hurry for Japan, and sells

Here we come, the international oil price is rushing towards the $100 mark in a majestic and arrogant manner. As of February 16, both Brent oil and U.S. crude oil are hovering around $95 per barrel. As long as Russia and Ukraine make waves again and break through. $100 is a matter of minutes.

Seeing that oil prices keep rising, some people are happy and some are sad. Looking at energy giants such as Saudi Aramco and Russian oil, the cost of a barrel of oil is only between 40 and 60 US dollars, or even lower. Now it is just lying down to make money and counting money with eyes closed.

With more money, Saudi Aramco, which is more confident, has also restarted negotiations on a joint oil refinery in China. It is said that the giant promised to spend 10 billion US dollars to build a factory in China. How could he know that the bad luck, the outbreak of the epidemic, the turbulent oil price, and the loss of Saudi Aramco to the grandmother's house can only hold the money bag tightly, wait for a while, not for now engage.

Now that the money has been made, Saudi Aramco has come to the Chinese market to show its grand plans and restart the plan, which can be considered a success. Energy companies make a lot of money and pay more taxes to the country. Logically speaking, everyone is happy, but high oil prices will push up inflation, which is another worrying thing.

For example, Japan, which can't stand high oil prices, has made another move. It has just announced that it will sell 1.64 million barrels of crude oil from its national reserves. The auction will be held from February 16 to March 9, and the delivery date will be April 20.

It should be mentioned that this is the second time in just two and a half months that Japan has sold crude oil from its national reserves. Previously, in order to lower oil prices, the United States forced Japan, South Korea, India, the United Kingdom and other countries to board the ship, of which Japan said it would sell 4.2 million barrels of crude oil reserves.

However, the effect was not obvious. The international oil price still took the helicopter and soared into the sky, which made the price of gasoline in Japan soar, exceeding 170 yen per liter, reaching the threshold for the country to start emergency assistance to oil refiners.

Therefore, Japan began to directly subsidize domestic refiners from January 27, and then increased the subsidy amount twice to 50 yen per liter, which has reached the upper limit. No way, it is still going back to the old way, and Japan continues to follow the example of the United States to sell oil reserves. According to statistics, from November 2021 to mid-January 2022, the United States dumped its reserves five times in a row.

In addition to selling off the country's crude oil reserves and subsidizing refiners, Japan has restarted submarine oil and gas exploration after 30 years, intending to further enrich its wealth. In addition, Japan also asked the United Arab Emirates, the United States and other oil-producing countries to increase production to help stabilize oil prices.

Subsequently, the U.S. EIA made a statement, saying that oil prices have risen sharply, and producers can’t sit still and are increasing their efforts to drill for oil and gas. It is expected that the average daily output of U.S. crude oil will reach 12.6 million barrels in 2023, which is higher than the record high daily output in 2019. 12.3 million barrels is still higher. Meanwhile, the EIA raised U.S. crude oil production to 11.97 million bpd in 2022 from 11.8 million bpd.

This is exactly what Biden wants. He has repeatedly asked U.S. oil and gas producers to increase production to curb oil prices. U.S. inflation rose 7.5 percent in January from a year earlier, a 40-year high, due to factors such as soaring oil prices. If Biden does not show his power, there is no way to communicate with voters.