Daily crude oil spot price September 2017

Daily crude oil spot price September 2017

Today, crude oil prices in Asia rose by US$0.54, or 0.76%, to US$782 per barrel. The price of oil above 72 US dollars formed a key resistance. The short-term oil pricDaily crude oil spot price September 2017e lacks strong support. The news is light and the technical side has entered a consolidation phase. Can crude oil prices break through? What about another record high?

The performance of inventory data for two consecutive days was mixed. As a result, crude oil prices did not show a stable trend in the intraday, and ultimately remained within the 65-66 shock range. It seems that the final decision on the direction of crude oil depends on the results of the OPEC meeting on Friday.

Internationally, according to foreign media reports, OPEC Secretary General Barkindu said on the 7th that Saudi Arabia has assured OPEC that Saudi Arabia is committed, capable and willing to ensure that there will be no shortages in the oil market. The analysis believes that the current market supply is sufficient and demand is on a downward trend, and it is difficult for oil prices to continue to rise sharply.

From a fundamental point of view, the reason for the recent recovery in oil prices is the preliminary agreement reached last week to limit production, which provides strong support for crude oil. The trend of the crude oil trend requires attention to the final implementation results of this agreement and OPEC before the implementation of specific production restrictions. Various dynamics in oil-producing countries. However, in terms of supply and demand, Russian crude oil production continued to increase, Iran once again pushed crude oil production to the pre-sanction standard of 4 million barrels per day, India increased its annual crude oil production to 25 million tons, and the market’s counterattack against U.S. shale oil The subsequent impact on expectations has all constituted substantial pressure on rising oil prices.

Cartel organization, that is, monopoly interest alliance. This kind of alliance usually occurs when a small number of resources are fully controlled by several companies. In order to avoid the overall profit decline caused by excessive competition, companies that produce similar products will form an alliance to control the output and price of the product through certain agreements or regulations. . According to US antitrust laws, cartels are illegal.

Fatih Birol, the director of Daily crude oil spot price September 2017the International Energy Agency, said last month that if supply interruptions worsen, releasing global oil reserves is an option. Phil, Senior Market Analyst, PriceFuturesGroup

There have been reports that during the last round of Iran sanctions, Iran had been able to export some oil by shutting down the tracking system of its tanker fleet and concealing the destination of transportation. Robin, CEO of QamarEnergy

However, some people in the Japanese government pointed out that Japanese companies that import Iranian crude oil may take into account the impact on their business in the United States. They may control imports from Iran on their own and switch to alternative purchases from other countries. Relevant companies around the world have successively taken actions to control imports from Iran. For example, French petrochemical company Total discussed withdrawing Iran’s natural gas field development projects.

In the first half of this year, the global economy continued its 207-year recovery momentum; however, unlike the simultaneous recovery in 207, the growth of some countries and regions fell short of expectations, and the global recovery situation was divided.

This week, the May non-agricultural employment report in the United States will be released. As OPEC's production increase speech hits the crude oil bulls, can the emergence of non-agricultural products save crude oil prices? How should investors trade? The following will give reference opinions for reference only .