Watch OPEC-China Policy Toxicity, Oil Hits $ 110, Matichon Seminar ‘Energy For Tomorrow’
Mr. Phiphat Leungnaruemitchai chief economist The Kiatnakin Phatra Financial Group (KKP) revealed that from the case of the oil exporting countries (OPEC) and its allies (OPEC Plus) they have decided to reduce the production quotas of crude oil by 2 million barrels per day. This makes it quite worrying that oil prices are rebounding in the high zone again this November. reflected since OPEC announced the results of the meeting The price of oil jumped immediately. initially expected Oil prices for the remainder of 2022 and 2023 will move to around $ 100 per barrel But if there is a crisis in the oil market The price could rise to $ 110 per barrel.
“The reason for the decision to reduce the production capacity is because of the concern for the demand (demand) in the world market which is not enough Especially if China did not open the country soon. But if China opens the country again earlier than expected and demand is reborn But production is reduced by over 2 million barrels a day. it will make the oil market very tight And finally, oil may not be enough to use. which is an important factor causing the price of crude oil to rise. Since the previous price has been reduced, “Phiphat said.
Mr. Phiphat said Thailand’s economy for the remainder of 2022 is set to improve. because it is now in the recovery phase. which sees more foreign tourists return to Thailand The country is completely open The main risks to the general economy are external risk factors. They are starting to see signs of a rise in the price of oil, inflation, high interest rates, worries about the slowdown in the world economy. The Thai economy will be affected by the export sector, selling fewer products. and tourism sector fewer people come to Thailand
The upward trend in the price of oil affect the general economy by increasing inflation Previously, the price of oil has fallen. The market believes that inflation is likely to go down. But when the price of oil has risen again Inflation may not fall as quickly as expected. This is an important issue that affects people’s purchasing power. and make the economy itself negative again The expectation that the economy will recover comfortably may not be as expected, ”Pipat said.
This was reported by the journalists Matichon editorial staff Preparing to hold a seminar on the topic “Energy For Tomorrow, World Agenda – Thailand Agenda 2023” Wednesday 26 October 2022 from 13:00 to 16:15 at Samyan Mitrtown Hall 1 (5th floor), Samyan Mitrtown Mall. honored by Supattanapong Punmeechaow, Deputy Prime Minister and Minister of Energy Special lecture on “Energy: World Agenda – Thailand Agenda 2023” with a special conference on “Road Map of Thai Energy” by Mr. Wattanapong Kurovat, Director of Energy Policy and Planning Office (EPPO), Ministry of Energy and conferences Special theme “Thai business and the problem of the Zero Carbon world” by Dr. Kongkraphan Intharajang, CEO and President, PTT Global Chemical Public Company Limited concluded with a table round entitled “Business Perspective Direction of Thai Energy 2023” by the private sector, namely Suroj Sangsanit, Executive Vice President, SAIC Motor-CP Company Limited, MG Camp (MG) and Dr. Kesara Thanyalakpark. Chief Executive Officer, Sena Development Public Company Limited, headed by Bancha Chumchaivet, news host
Reporters reported this The five executives of the public and private sectors of the energy sector will project every aspect of the energy situation. both conventional energy and new innovations that will arise, new ways of using energy efficiently do not return to harm society Allow the business sector and the public to be aware of and prepare for the changes taking place Both of the global group of oil producers ( OPEC) have reduced production. The energy requirement is high in winter. and the events of the war that has continued over the years. This is evident in the direction of energy prices which are climbing back above $ 100 a barrel.
Those interested can listen to this seminar Both offer interested people the opportunity to listen and visit and listen to Live Streaming via Facebook Matichon Online, Prachachat Business, Live News and YouTube Matichon TV Line Matichon, Live News. You can register to participate. by scanning the QR code below
