The increase in oil supply in various oil fields, especially the "Azadegan" oil field in Iran and the "North Dakota" oil field in the United States, has kept global oil prices at high levels. Despite significant growth in production, logistical issues and infrastructure constraints have prevented prices from falling.
Logistical Challenges in Oil Fields
The Azadegan field, with a production capacity of 300,000 barrels of oil per day, has recently faced disruptions in transporting crude oil to refineries due to logistical problems. These challenges include a lack of suitable transportation, insufficient infrastructure, and adverse weather conditions, which directly affect export timing.
Read more: Iran's Petrochemical Industry Needs Active Trade Diplomacy
In the United States, the North Dakota field, one of the largest shale oil fields, is facing similar issues. With a production capacity of about 1 million barrels per day, this field is experiencing a shortage of suitable pipelines, which slows down the transportation of oil to the market.
Factors Affecting Oil Prices
Several factors contribute to the persistence of high oil prices. One of these factors is the increasing demand from developing countries seeking to secure energy for their economic growth. Additionally, political fluctuations in oil-producing regions, especially in the Middle East, can contribute to rising prices.
Furthermore, competition in the global oil market, particularly between OPEC and non-OPEC producers, has had serious effects on prices. While OPEC attempts to control production to maintain prices, shale producers in the U.S. continue to increase production, leading to tensions in the global oil market.
Ultimately, it seems that the current state of the oil market will not change soon due to logistical challenges and increasing demand. Therefore, producers and consumers must closely monitor ongoing developments in this industry.
Read more: OPEC+ Maintained Its Oil Production for November · Shasta's Job Opportunities in Oil and Petrochemicals with 34 New Positions
