The same analysts also attribute the fall in Brent to the concern aroused among investors about the resurgence of the coronavirus in China, and the impact it could have on oil demand.
Faced with the advance of the virus, China has confined the city of Shenzen, with 17 million inhabitants, this weekend. The restrictions are causing the suspension of operations of multinationals with activity in the Asian country, such as Foxconn -maker of Apple-, Toyota or Volkswagen.
Analysts believe that a slowdown in the Asian giant’s economy could be linked to a temporary drop in the level of global demand for crude oil, which contributed to the drop in its price.
A signal from the US to Venezuela’s oil
The White House communicated through its spokesman that the United States is not maintaining “for now” contacts with Venezuela or launching any plan to import oil from that country and thus balance prices after closing the tap on Russian crude due to the invasion. from Ukraine. “It’s not something we’re actively talking about right now,” Jen Psaki said, at her daily news conference.
Last week, a high-level delegation from the US government traveled to Caracas with the intention of proposing an economic agreement to Nicolás Maduro to meet some energy demands in its economy, which sparked harsh criticism from several legislators of both parties in Congress. . Democratic Senator Bob Menéndez, chairman of the Senate Foreign Relations Committee, said the purchase of Venezuelan oil could perpetuate the humanitarian crisis in that country. “We should not breathe new life into the reign of torture and murder [de Maduro]”, Menendez said in a statement.
The trip to Caracas also created tension with one of Washington’s allies on the continent. The president of Colombia, Iván Duque, arrived on an official visit to the White House after knowing the contacts with Maduro and without him having been notified of it. After meeting with the US president last Thursday, Duque revealed that he had offered Biden the supply of more Colombian oil to stabilize energy prices, as an alternative to Venezuelan crude.
Source: Ambito
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