Reuters quoted two OPEC sources as saying that the OPEC secretariat in Vienna has drafted a response plan for the end of the production reduction plan, which includes a vCrude oil prices fall todayariety of different options, and discusses what the plan will look like before the end of the feasibility study. It's too early. However, they made it clear that the plan will be a continuation strategy, rather than a simple exit to reduce production.
Although oil prices are facing the benefit of alleviating excess inventory and will welcome the summer driving season, there are still many negative factors facing it. First, the OPEC meeting in June may consider increasing production. Earlier, there was news that Saudi Arabia, OPEC's largest oil producer, and Russia are discussing to lift the 0 million barrels/day of crude oil production restrictions from the production reduction agreement. OPEC will make the final decision at the June meeting. However, there is also news that OPEC's internal differences are obvious, and it may be more difficult to determine the restoration of some production at the June meeting.
US oil service company Baker Hughes released data on Friday, May Day, showing that as of the week of May Day, the number of active oil wells in the United States increased by 0 to 844, the first six consecutive weeks of growth since the beginning of the month, continuing to brush 205 years. Come to a new high. More than half of the wells were from the Permian Basin, and this week increased by 5 to 46, the highest in 205 years. The U.S. Energy Information Administration EIA expects that crude oil production in the Permian Basin in May will increase to a record high of nearly 200,000 barrels per day, accounting for about 30% of total production. More data shows that the total number of active oil and gas wells in the United States increased to 045 in the week ending May.
The incompatible state of Iran and the United States is reminiscent of the 200-year invasion of Iraq by the United States and the overthrow of then President Saddam Hussein. Of course, things have never been so bad, but the tension in the geography has undoubtedly deterred Iranian oil production. There was a shadow.
Through the above practice, traders have regularized methods to prevent every error, and every transaction can be strictly enforced. At this time, the capital curve gradually rises, the slope is appropriate, and there is no big retracement. The trader himself I also feel that trading is not so tiring. Although I am still watching the market every day, the number of orders is getting less and less, and the success rate is getting higher and higher. At this time traders believe in their trading system and understand that although the system has some shortcomings, it is inevitable to stick to it and make money. At this time, traders are still insufficiently determined and vulnerable to interference from outside information, such as advice from masters they admire, reports on the main bankers, specious fundamental information, etc. Traders will also suffer from mistakes due to credulity.
At the same time, the Syrian President Assad’s government and its main ally Russia stated that there is no evidence that a gas attack has occurred and that this statement is faCrude oil prices fall todaylse. This incident will make the United States and Russia face each other again.
In the spot market, there is no difference between a master and a low hand. Only when there is a loss or not, can you make money if you stop the loss, and you will always lose money if you don’t stop the loss; a successful investor will always control the risk , Do not forget to stop loss in the trend, and do not forget the trend in the stop loss, the balance of the two is the greatest guarantee of investment profit.