Here are some international oil news for January 23, 2025:

Price aspect

As of January 23, 2025, the WTI crude oil futures price was trading near $75.2 / barrel, and the Brent crude oil futures price was maintained at about $78 / barrel, and the overall situation was volatile.

Supply side

Saudi Arabia's oil exports fell 12.3 per cent in November from a year earlier, according to government data.

It is expected that the international oil market will be oversupplied by 2025, and the excess supply scale may reach 1.2 million barrels per day, and some non-OPEC countries continue to increase oil production capacity.

Demand side

According to the "Domestic and Foreign Oil and Gas Industry Development Report in 2024", China's oil consumption is expected to peak in 2025, and with the impact of economic structural adjustment and other factors, China's petroleum and petrochemical market has entered a period of transformation and reshaping, showing the characteristics of "refined oil decline and chemical oil increase".

Policy and industry dynamics

US President Donald Trump signed an executive order on Monday announcing that the United States will once again withdraw from the Paris Agreement, also lifting restrictions to boost US oil and gas production, and dropping support for clean energy technologies such as electric vehicles and wind power.

Market analysis

Scic futures believes that SC crude oil is relatively strong and expected to be high and volatile, and the market is still weighing the negative impact of Trump's tariffs on demand and the tightening of oil supply caused by sanctions on Russia, Iran and Venezuela.