A few days ago, OPEC officials gathered in Kuwait to try to formulate a strategy before the June 22 meeting. Although OPEC officials did not disclose more Adal crude oil analysisdetails, they promised that healthy market conditions are needed to stimulate investment in the oil industry, ensure a stable supply to meet growing demand, and offset the decline in production in some parts of the world.
In addition to the bad news caused by the continuous increase in crude oil inventories, the recent strong rise in the U.S. index has also increased the decline in crude oil from the side. Since the U.S. Treasury yield broke through %, the U.S. index has started a strong rise in the market. After breaking through the 90.50 and 9 line of the upper boundary of the shock space, yesterday the U.S. index rose sharply again and broke through the 92 line, and there seems to be a further upward trend. If this week’s non-agricultural data or the Fed’s resolutions further bring positive news for the dollar, I’m afraid The rise of the U.S. index will expand further. Before the upturn in the crude oil market arrives, crude oil prices may experience a continuous slump due to the strong suppression of the US dollar index.
The number of U.S. crude oil rigs has risen for four consecutive weeks, as the rise in oil prices to highs in more than three years prompted producers to further increase production. In the week of April 27, the number of crude oil wells increased by five to 825, the highest level since 205 months. The number of crude oil rigs increased by 28 in April, which is only two more than the month.
Oil prices rose after OPEC took the lead in reducing production, which prompted competitors to increase supply. The increase in shale oil production in the United States is particularly typical. OPEC predicts that non-OPEC supply will increase by 860,000 barrels per day this year, which is about 10,000 barrels per day higher than last month’s estimate.
According to data released by Baker Hughes on Friday, April 20, as of the week of April 20, the number of active oil wells in the United States increased by 5 to 820, recording growth for three consecutive weeks and continuing to a new monthly high in 205 years. More data shows that the total number of active oil and gas drilling in the United States increased by 5 to 0 in the week ending April 20.
The American Petroleum Institute API released a report on Tuesday, April 7, stating that as of the week of April, US crude oil inventories fell by 0.7 million barrels to 2.8 billion barrels, and analysts expected a decrease of 900,000 barrels. Cushing crude oil inventories fell by 0.5 million barrelAdal crude oil analysiss.
It is believed that the stop loss is invalid because the stop loss will not be set up. The stop loss is placed within the fluctuation range and does not leave room for fluctuations. Naturally, it will be swept by the fluctuations again and again. Judging the trend is not helpful, but it brings unnecessary losses again and again. At the same time, the stop loss is deemed invalid because of the invalid stop loss set. When you are lucky, you will no longer stop the loss. Once you go against the trend, you will suffer heavy losses.
Relevant ship tracking data showed that the export volume of Iranian oil and condensate fell below 200,000 barrels per day in August, the lowest level since 206, and the export volume of crude oil hit the lowest level since this month.
The U.S. WTI crude oil price recently broke through the US$7/barrel mark, reaching its highest level in three and a half years, mainly due to the OPEC production cuts by the Organization of the Petroleum Exporting Countries and the sharp decline in Venezuelan crude oil production. High oil prices have stimulated US crude oil producers to increase capital expenditures to increase crude oil production and enjoy the additional benefits of high oil prices.
Since the beginning of this month, international oil prices have hit their highs in the past four years and have begun to undergo substantial adjustments. After the London Brent crude oil futures price fell by about 2% on the 4th, it fell sharply from the 0th to the day, and the cumulative decline in the two trading days exceeded 5%. As of the close on the 7th, the price of light crude oil futures for monthly delivery on the New York Mercantile Exchange closed at US$675 per barrel, a decrease of 02%; the price of London Brent crude oil futures for delivery in February closed at US$80.05 per barrel. The drop was 67%.