Chapter 1862

The weather is getting colder and colder. Many areas in the north have been covered with snow. However, although there have been two snowflakes in the capital, they are almost gone when the wind blows.

Feng Yugang just got off the plane. The driver came to meet him at the airport. When Xiangjiang is finished, Feng Yu can go home for a few days.

Feng Yu doesn't need to keep an eye on crude oil futures any longer. As expected, the price of crude oil keeps falling.

The financial crisis broke out completely, and the price of crude oil futures also fell. Those who once thought that the stock market would fall and crude oil prices would rebound, one by one, suffered a lot.

And those who invest in gold futures with high leverage, one by one, can't cry. They've been drained for a long time.

They did not expect that the impact of the financial crisis would be so great that the entire financial industry would fall. Stocks, futures, funds, currencies, etc. are all plummeting, and none of the world's major markets is immune.

The reason for the collapse of crude oil futures is not only because of Feng Yu, but also because of the participation of many large financial groups in Europe and the United States.

These big consortiums also lost a lot in this financial crisis. Which consortium may not have financial companies?

These big consortia lost money, how would they choose, of course, to make the loss back.

As long as they can unite, they can control the market to a certain extent, and then earn back the losses through other products, such as futures with high leverage.

When the price of crude oil falls below $100, OPEC members feel that it is almost the same. Between $80 and $100, this is their psychological price, which is in their best interests and can satisfy the major crude oil importers such as the United States and China.

But what they didn't expect was that the financial crisis hit and crude oil prices began to plummet. At this time, all OPEC members are panicked. What's the matter? How can crude oil become so cheap?

Many of them still owe a lot of foreign debt. They need to sell oil to pay off their debts. Otherwise, if the interest is rolling, they will have to exploit more crude oil.

The price of crude oil has gone down. It used to be one million barrels to pay off the debt. Now it's almost two million barrels. No way. In order to pay off the debt, let's exploit more.

In this way, a vicious circle is formed, with high output and supply exceeding demand. According to the market law, the price of crude oil will fall.

When the price of crude oil falls, they will increase production, which will lead to a drop in price, thus falling into a dead cycle. Unless they can pay off their debts, they will be able to pull back the price of crude oil through the production limit program.

Don't think those OPEC members are really very rich. Apart from the war and chaos countries like Iraq and Iran, even countries like the United Arab Emirates still owe a lot of foreign debt.

In the Middle East, many people don't know much about the economy at all. These years, they are mainly selling oil and natural gas together to make money, and occasionally selling some chemical products.

And when the price of crude oil is good, they can make a lot of money, and become more and more ambitious. Give all kinds of promises to the domestic people, even in order to fulfill them, do not hesitate to borrow.

For example, to prosper the domestic tourism industry, we need to build some world-class hotels. One is definitely not enough. We need to build more. Three, five are not too few, ten, eight are not too many. If you don't have money, you can borrow money to build them.

Not to mention that tourism itself is a long-term investment. No tourism can recover costs and make profits in a short time. Tourists are not stupid.

Then do you have to build luxury hotels? Others mainly come to play. The beach, sea water and even desert are all scenic spots. Is the hotel a scenic spot?

What they see is that Las Vegas and many other cities are full of hotels. If they earn a lot of money, they have to imitate them. Besides, they are not only five-star hotels, many of them are more than five-star hotels.

But Las Vegas and other cities are gambling cities. If many people win money there, they will enjoy it. They won't feel hurt when they spend money.

But there are many ordinary tourists here in the United Arab Emirates. Where are they willing to go? Which rich person will think that the hotel is better than the home, to travel, not to see the scenery, but to stay in the hotel?

And the United Arab Emirates has not been specially publicized before, where will there be so many tourists? The higher the vacancy rate is, the higher the hotel price will be to make up for the loss. As a result, this is a vicious circle.

Why is your hotel so expensive? An ordinary suite can catch up with someone else's presidential suite.

There are also UAE and other countries that need to learn from Saudi Arabia, to build large cities and to invest heavily in infrastructure, but these are not profitable.

It's good for the people to invest in infrastructure, but they can't borrow money to do it. There will be more and more debt, which is dangerous for a country like the United Arab Emirates, which has little foreign exchange reserves.

In order to avoid debt failure, the UAE was the first to increase production violently, and then other member countries began to follow suit. When Feng Yu saw this, he couldn't close his mouth.

There are golden mountains and silver mountains in my family, and I can't bear two black kids.If OPEC members can truly unite and keep the same economy, currency and even some laws as the EU, then OPEC is definitely a strong organization.

Unfortunately, this organization is too loose, and there are still countries going in and out, which can't form a force at all.

When crude oil fell, they didn't know why or how to find a solution. Instead, they increased production all the time. Isn't that digging a hole for themselves?

Every year when we sell so much crude oil, we don't know how to keep some foreign exchange reserves. When someone manipulates the price of crude oil, they can't even resist. It's a failure.

Saudi Arabia, as the leader, did not make a move. Maybe this is also a Saudi strategy.

Other countries are not satisfied. In the event of a crisis, Saudi Arabia can easily survive. Our foreign exchange reserves are enough, and there are not many places for our country to spend money now. All that needs to be built has been completed.

In the future, I will see who you are still against me. I said that production should be limited if production is limited. I said that production can only be increased if production is increased. You are so random and disorderly. It is you who suffer the loss!

Whether these guesses are true or not, however, the price of crude oil continues to fall and has fallen below the $60 line, which surprised many people.

The benchmark of $60 is what many people think of as the insurance price, but they can't imagine that the benchmark of $60 is easily broken, and then it goes down all the way.

Can this crude oil fall to the level of last century, with only a dozen dollars a barrel?

Of course, it's impossible, because Feng Yu and his company have already started to gradually deliver contracts, and those big consortiums in Europe and the United States are also slowly delivering contracts, starting to reap profits.

However, the crude oil futures of this world are more volatile than those of the previous world. Feng Yu even suspects that the price of crude oil may fall to $30.

With inflation in mind, that's lower than a dozen dollars in the last century!

It seems that this time, profits can be higher than expected.

……