At present, the oil price is stable above 49 US dollars. If there is no sudden news, it is expected to maintain a consolidation around 49 US dollars during the day, just wait and see. For the EIA in the evening, the individual predicts that it is still more likely to follow the general rules. HoweverFXCM crude oil contract, I expect that the strength of the callback after the data is also not small, and it is very likely that there will be a short-term rise and then a sharp correction.
Goldman Sachs predicts that given the increasing uncertainty in fundamentals, the oil distribution will fluctuate in the range of $70 to $80/barrel, and there is a downside risk in the short term. In the long run, although global oil inventories are weak, oil demand remains strong, and oil prices are expected to be supported in the longer term.
So many countries are not afraid of US strikes and say they will help Iran. The US oil ban is basically invalid. With these countries taking the lead, there will be more countries violating the oil ban in the future, and the U.S. self-directed and self-acted drama will eventually fail to achieve its desired results.
Therefore, the rebound in crude oil prices brought by Venezuela seems to be more like a rebound in crude oil prices. It may help the market rebound to a certain extent before the OPEC meeting, but the overall crude oil market status is still in a hidden danger of increasing production. The larger the crude oil gap, the more obvious the situation, and the greater the probability of increased production in the market outlook. Therefore, crude oil prices in the market outlook should be vigilant against the emergence of the broken position below, and $65 may be the current key bottom support.
According to sources quoted by Reuters, Saudi Arabia’s National Petroleum Corporation, referred to as Saudi Aramco, plans to change the pricing consensus on long-term crude oil supply to Asia from 0 on. This is the first time since mid-980 that the pricing benchmark has been revised.
UAE Energy Minister Mazrui said on Monday that the next OPEC meeting will focus on defining the appropriate level of oil stocks. Russian Energy Minister Novak said that it is too early to sayFXCM crude oil contract whether Russia will change its position on the OPEC agreement.
Of course, in addition to the above factors, domestic and foreign macroeconomic environments, national road infrastructure policies, fuel oil market trends, refinery sales strategies, market speculation factors, etc., will also have an impact on asphalt price trends.
Associates analyst Stephenbren Knock said the United States will withdraw from the agreement and avoid expectations of extending sanctions, keeping both crude oil prices at nearly three-year peak levels.
At present, Saudi Arabia and Russia have relatively sufficient idle production capacity and strong willingness to increase production, superimposing the contribution of Iraq, Libya and other countries to increase production. In the fourth quarter, OPEC+ is able to compensate for the supply reduction in Iran and Venezuela.