CPT Markets：OPECRaising the forecast for global oil demand growth this year boosted oil prices...

Brentcrude oil (Brent Oil)：

Brent crude oil, which closed mixed on Monday, opened for consolidation today77.34Nearby, due toOPECRaising the forecast for global oil demand growth this year has provided upward support for oil prices.

In terms of positive factors, MondayOPECsecretary general Alges express,OPECThe statement that it is no longer an effective independent institution is unfair. In order to restore market stability and balance,OPECSuccessfully enabled10Eight countries have joined the Declaration of Cooperation. although60There have been various fluctuations and challenges over the years, butOPECHas always been a stable participant. At the same time, he reiterated that all decisions made by the organization are aimed at achieving a good balance between oil demand and supply. He also stated that,OPECThe forecast for the growth of global oil demand this year is due to the market's expectation that with the coming summer tourism, the demand for aviation fuel and gasoline will rise, while with China's continued opening up and the settlement of inflation and US debt problems, the demand for other products will improve.

In terms of bearish factors, on Monday, a small number of Republican far-right lawmakers stated that they would oppose raising the United States31.4The trillions of dollars debt ceiling agreement indicates that the bipartisan agreement may face difficulties in passing Congress before the United States runs out of funds next week. Although expected, this opposition position highlights the obstacles that Democratic President Biden and House Republican leader McCarthy must overcome in order for Congress to pass the agreement. In addition, according to the Zhishang Institute(CME)ofFedWatchTools, the market now expects the Federal Reserve to6Raise interest rates again at the mid month meeting25The probability of a basis point is approximately50%The probability of predicting a month ago is only8.3%。

In summary, oil prices are affected byOPECThe increase is supported by the forecast of global oil demand growth this year, but Republican hardliners openly oppose the US debt ceiling agreement and the Federal Reserve6The probability of monthly interest rate hikes has increased, limiting the upward trend of oil prices; The focus of the market will be on the outcome of the US debt ceiling negotiations and the congressional breakthrough.

Press from above(Upper resistance) 77.30，77.80； From the downward direction, the lower support76.90。

CPT MarketsRisk Tips and Disclaimers : The above article content is for reference only and is not intended as future investment advice.CPT Markets The articles published are mainly based on international financial data reports and international news as reference.