Crude oil market observation

Crude oil market observation

A month ago, perhaps no one would pay much attention to OPEC tomorrow, because OPEC has said many times to maintain production cuts. However, Trump’s sudden attack in the Middle East made OPEC suddenly begin to deal with a difficult problem. The problem is to either increase production to fill the gap in the Middle East, or insist on reducing production to allow the United States to reap the benefits. This seems to be a wrong choice for OPEC. In this confrontation between the United States and OPEC, OPEC is completely passive. Whether this meeting will cCrude oil market observationhoose to increase or decrease production has become the most concerned event in the crude oil market.

Zhuo Chuang Information analyst Meng Peng said that it is difficult for the crude oil market to substantially improve in the short term, and the market environment is cautiously bearish, and international crude oil prices may continue to be under pressure. This shows that domestic oil prices that follow fluctuations in international oil prices may not rise again.

Russian scholars said that Russia is not going to export a large amount of oil this year. The oil imported from Iran will be directly replaced by the Russian brand and exported to other countries. This kind of bartering trade can also increase Russia's exports to Iran, and Russia's food commodities and weapons can be continuously supplied to Iran. At the same time, Russia can also make a fortune by selling oil imported from Iran at a price increase.

In addition, it is reported that Iran is formulating a series of measures to help countries that continue to import Iranian oil avoid US sanctions. Later, it is possible to resell through private companies so that Iran’s traditional partners can continue to cooperate.

After the EIA inventory data comes out, the market sentiment may change, but the market may not absolutely follow the signals given by the data. For example, the inventory rises, but the crude oil price does not fall but rises, which may be due to expected fulfillment;

The Chicago Futures Price Group stated that the crude oilCrude oil market observation market is currently affected by geopolitical risks, and the supply and demand signals in the oil market are conflicting. The forces of bearish and bullishness have locked international oil prices within a certain range. It is difficult for the investment market to make any progress. It also said that the overall price of oil is bullish.

As for when the oil price will rise to $00/barrel, Fieshaki said: It depends on the progress of the United States and trade. The continued trade friction between the two largest economies in the world has already affected market sentiment. If this leads to a global economic slowdown, the oil and gas industry will be suppressed. He said: At present, the risk of boosting oil prices is a concern about the macro economy. If the US and trade frictions are resolved, there is only one way for oil prices to go: rising.