Crude oil trend

Crude oil trend

On Tuesday, April 7th, the American Petroleum Institute API announced that as of the week of April, US crude oil inventories fell by 0 million barrels to 2.8 billion barrels. Official data from the EIA of the US Energy Information Association will be released on Wednesday. In addition to U.S. factors, the oil market has been supported by the belief that there is a high risk of supply disruption. Such risks include the possible expansion of the Middle East conflict, the U.S. sanctions on Iran again, and Venezuela’s reduced oil productCrude oil trendion due to the political and economic crisis.

Rome believes that Macron may have bought time for the new Iran nuclear agreement to gain support, and given Trump's verbal contempt for this agreement, this in itself is a remarkable achievement. However, this was only a temporary success. The two analysts said: Macron's remarks have not changed our overall view, that is, the probability of the collapse of the Iran nuclear agreement during Trump's first term is 65%.

The total number of oil rigs in the United States for the week to May 4 will be announced in the early hours of Saturday, May 5. Last week, the number of active oil wells in the United States increased by 5 to 825, an increase for four consecutive weeks and a new monthly high in 205 years. Since April, the number of active oil wells in the United States has increased by 28, while the number has decreased by 2 in the month, and has increased by 78 so far this year.

First of all, in the event of a large loss occasionally due to a mistake, the mentality must be stable, and you must not get angry and rush back to the loss, and then blindly enter the field to fight again, so that the ending will be completely defeated. Knowing the enemy and the self is a hundred battles, if you have already suffered a loss, think about it in reverse. It must be the wrong idea to do the order. If you make a mistake, you will save it. It is not too late for a gentleman to revenge for ten years. Waiting for the time, waiting for the best time to enter and fight

Some other crude oil prices from Texas, the United States, are more favorable than West Texas Intermediate crude oil, because drillers are facing insufficient pipeline capacity and cannot adapt to the production boom in the Permian Basin. But according to Smith's data from ClipperData, the trade war tariffs will reduce this advantage, which could put US oil in trouble.

For analysts who are bullish on oil prices, the reasons for rising oil prices are even more obvious. Global oil inventories have returned to the five-year average. For moCrude oil trendst of the past eight months, OPEC has reduced its oil supply by more than 800,000 barrels per day.

Since the passage of the crude oil production reduction agreement in 207, oil prices have risen by about 60% in the past year. However, as Saudi Arabia, Russia and the United States plan to increase crude oil production recently, international oil prices have fallen. At the OPEC meeting to be held this week, it is generally believed that the issue of increasing crude oil production will be discussed.