Once losses occurCrude Oil Analysis You Tube, they are often reluctant to stop the loss and take up positions. This kind of thing happens too much. In fact, once you find that the direction of the market does not match the direction of your entry, it proves that your analysis is wrong, and you should immediately admit your mistakes instead of letting them continue. Don't be lucky.
The formal punishment of the United States against Iran has been in effect for two days. Although the United States clearly requires that, except for the seven countries and one region that are exempted within 80 days, other countries cannot import Iranian oil, and after 80 days, these countries And regions cannot continue to import Iranian oil, but many countries have stated that they will continue to import regardless of whether it is within the exemption period or not on the exemption list.
According to reports, Venezuela is considering announcing that it has encountered force majeure in order to exempt it from the obligation to perform the contract. This also means that the Venezuelan national oil company PDVSA is ready to announce that it cannot provide the amount of crude oil it has promised.
Summary: Since this year, the Indian rupee has been depreciating, and the depreciation rate has reached 8% so far. India is still importing a large amount of crude oil. An Indian government official said in an interview with the media on August 6 that if the rupee continues to depreciate, India’s crude oil expenditure may increase by an additional $26 billion in fiscal year 208-9.
Market focus on OPEC countries and non-OPEC oil producing countries such as Russia may increase production. Earlier, it was reported that Saudi Arabia and Russia had discussed an increase in production by about 0 million barrels per day. OPEC and some non-OPEC oil-producing countries will meet in Vienna on June 22 to discuss whether the production limit commitment should remain unchanged.
Oil demand has fallen sharply. OPEC’s monthly report released on the evening of the month stated that the growth rate of global crude oil demand in 209 was 290,000 barrels per day, which was a decrease of 70,000 barrels per day from the previous month’s report. This is the fourth consecutive month that OPCrude Oil Analysis You TubeEC has adjusted downwards for 209 years. Crude oil demand growth rate.
Although Iraq’s oil exports have increased substantially, it has not brought much benefit. Data shows that the average selling price of Iraqi oil in February was US$58/barrel, compared with US$6/barrel in the month. Iraq’s total oil revenue in February was $600 million, compared with $6.2 billion in the month.
Compared with the crazy increase in crude oil prices last week, the crude oil market this week is not inferior. As the situation in the Middle East is cooling down, crude oil inventories once again contributed to helping crude oil successfully win the 68 US dollar mark, and the further cooling of Sino-US trade also allowed The price of crude oil once again hit a new high of US$656. However, the market finally closed down on Thursday and Friday. Although the decline of the second consecutive decline did not match, it at least calmed the market temporarily. Although the current oil price is only one step away from US$70, In fact, there are still many hidden dangers in the crude oil market outlook. Some of these hidden dangers may cause oil prices to rise again, but some may also bring fatal disadvantages to the crude oil market.