With Brent crude oil breaking through $80/barrel, oil prices have entered the ovCrude oil trading planerwhelming area of this cycle. Excluding price factors, the average oil price was US$75/barrel during the complete cycle from February 998 to 206.
Oil pipeline capacity restrictions in the Permian region of the United States continue to suppress crude oil prices in the region. As crude oil production increases beyond the capacity of existing pipeline infrastructure, producers must transport crude oil in more expensive forms of transportation, such as trains and trucks, and the U.S. crude oil prices are expected to rise in the future.
The most critical OPEC meeting in the crude oil market this Friday will be held. At that time, it will be discussed whether oil-producing countries choose to increase or reduce production in the face of the huge original gap in the Middle East. At present, OPEC is basically divided into these two factions. This divergence also directly determines the trend of crude oil prices in the market outlook, whether it will fall back to 60 US dollars or lower, or return to 70 US dollars and hit a new high.
Today in the US presidential election, the spot crude oil market fluctuates violently. Every time there is a big market, some people will cry and some will laugh. The ones who cry are those who have gone in the wrong direction, the loss is extremely serious, and even the positions are overwhelmed! The ones who laugh are those who have gone in the right direction and have made a lot of money. But don't forget about it because of a moment of complacency, and make a sad face because of a momentary mistake. Investment is like walking on a bumpy mountain road. There will always be a fall. What we have to do is to sum up the experience, the market is still there, and the market is still there. Yi Weizhe is willing to encourage everyone!
Corresponding to this is the continuous surge in US crude oil production. At present, the US crude oil production has reached 0.7 million barrels per day. There is little suspense that it exceeded Russia’s current production of 0 million barrels per day in 208. It is expected that this output will be expected by the end of 209. Reached 700,000 barrels per day.
OPEC’s production cut is to rebalance supply and demand in the oil market, while oil gCrude oil trading planiants claim that global oil demand will reach a peak in the next five years. Does this mean that the rebalance of supply and demand in the international oil market is false?
Compared with the average decline of 280,000 barrels per day from 202 to 204, OECD consumption increased by 580,000 barrels per day from 205 to 207. In contrast, the average annual growth rate of non-OECD economies has slowed slightly from 400,000 barrels per day to 200,000 barrels per day. In other words, since the sharp drop in oil prices, the acceleration of global fuel consumption has all come from the faster growth of OCED economies.