Some political analysts believe that the Trump administratioCrude oil price newsn is facing mid-term elections in the US Congress and needs to rely on Saudi Arabia and other major oil-producing countries to increase production, as far as possible to offset the impact of Iran's crude oil exports and rising oil prices, so as not to drag down the performance of the current administration.
Since the beginning of this year, the world has been in the destocking stage, and the escalation of geopolitical issues has led to an increase in market expectations for future supply gaps. Oil prices have continued to rise; the impact of the Middle East problem on supply has basically been reflected in oil prices, and it depends on whether the expectations will be realized in the later period. .
More importantly, as mentioned in the previous CNPC article, OPEC and Russia have jointly reduced production, but Russia is reducing production on a voluntary basis. At present, the United States is about to annex such a large market. Russia cannot stand by and let the United States sit back and reap the profits. Therefore, Russia There is a high probability that it will withdraw from production cuts to compete with the United States for the crude oil supply gap. After losing the Russian helper, is it necessary for OPEC to continue to cut production? I am afraid that even if it persists, the effect will be minimal.
The number of ADP jobs announced in the day and the revised US GDP in the first quarter were both lower than expected. After the data was released, the US dollar had little reaction, but the strong rise of the Euro and the Canadian dollar put the US dollar under pressure. The closely watched tensions in Italy have temporarily eased, and the Italian debt auction has been successfully completed, giving the euro a temporary respite. The Canadian dollar fluctuates particularly sharply. The central bank of Canada kept interest rates unchanged during the day, but deleted a wording in the statement. The hawks clearly caused the Canadian dollar to surge over a hundred points in the short term.
The news came as North Korea was demonstrating its plan to dismantle a nuclear test site, but it was also after the North Korean government made some sharp remarks on the denuclearization requirements of the United States. In recent days, people’s doubts about whether this summit can take place have increased.
As of press time, the rate of change of comprehensive crude oil varieties is negative 2%. Many professional organizations predict that the oil price may drop around 55 yuan per ton, which translates to a price increase of 0.04 yuan for 89 gasoline, 0.04 yuan for 92 gasoline, and 0.05 yuan Crude oil price newsfor 0 diesel. If the downward adjustment is calculated at 55 yuan/ton, consumers will be able to save two yuan for a full tank of fuel, and travel costs can be slightly reduced.
Dyomin said that Transneft and oil company stocks are not used for long-term hoarding. It is only part of the system. Sufficient inventory can ensure the smoothness of the docking process of petroleum products from producers to consumers. Russia's total idle capacity has reached 10 million tons, equivalent to 200,000 barrels per day.
Sometimes the price is close to the target, and the opportunity is good, but it is still a few points before it is in place. I could close the position and collect money, but due to the original target, I missed the best price while waiting and missed the opportunity. Establish a position when the market breaks: The market refers to the market in cowhide, with narrow volatility.
Coincidentally, Goldman Sachs also predicted that Brent crude oil will return to the 70-80 range before the end of the year, not as high as $00. It's just that Goldman Sachs believes that the balance of the crude oil market depends on OPEC and Russia to make up for Iran's gap, just like before.
Saudi Arabia insisted in the first few months of this year that with the steady decline of oil inventories, the oil market is moving towards rebalancing, but there is more work to be done. Saudi officials have repeatedly insisted that the OPEC+ agreement will not be changed before the end of the year, and they will continue to focus on reducing oil inventories.
Tan Zhuo, an analyst at China Merchants Securities, said there are five major factors affecting crude oil prices, such as supply, demand, inventory, trade and financial attributes. If major oil-producing countries throw out plans to reduce or increase production, it will directly affect the performCrude oil price newsance of international oil prices.