CPT MarketsSaudi Arabia's production reduction plan will be delayed again to boost oil prices! Follow within the dayOPEC+ JMM...

Brentcrude oil (Brent Oil)：

Brent crude oil rose to85.11Nearby, due to measures taken by Saudi Arabia and Russia9The supply may even remain tight for a longer period of time, leading to a short-term upward trend in oil prices.

In terms of Lido data, Saudi Arabian National News AgencySPAThe report states that Saudi Arabia will voluntarily reduce its oil production10010000 barrels/Extend the plan for the day by another month to9At the end of the month. The news agency quoted an official source from the Ministry of Energy as saying that the production reduction measures can be extended and deepened. The source stated that Saudi Arabia9The monthly oil production will be approximately90010000 barrels/Day. In addition, the Deputy Prime Minister of Russia Novak State that the country will9Monthly reduction in oil exports3010000 barrels/Day. Prior to the announcement of the aforementioned production reduction decision, the Organization of the Petroleum Exporting CountriesOPECAnd an alliance of oil producing countries formed with allies such as RussiaOPEC+to6Announcement of restrictions on oil supply until next year. OPEC+The minister will hold a meeting on Friday to evaluate the oil market situation.

In terms of bearish data, Richmond Fed Chairman Balgin Despite recent data showing that price pressures have significantly eased and are welcome, the inflation rate in the United States is still too high. Barkin's speech for a speech mainly focused on whether the economic recession was imminent. Although no clear predictions were made, he did indicate that a further slowdown in economic activity is almost certain to be imminent. Nevertheless, he believes that this slowdown may not be as severe as in the past and may result in fewer job losses. In addition, all three major US stock markets have narrowed, including the S&P Index's closing decline0.30%The Dow Jones Industrial Average closed lower0.19%And the Nasdaq Index closed lower0.10%。

In summary, oil prices are further delayed by Saudi Arabia's production reduction plan and Russia's announcement9The monthly reduction in oil exports has boosted the trend, but Federal Reserve Chairman Balkin stated that inflation is still too high and believes that economic activity may further slow down, as well as a complete decline in US stocks, limiting the rise in oil prices; Key focus for the dayOPEC+Joint Ministerial Supervisory CommitteeJMMCMeeting held and non agricultural data.

Press from above(Upper resistance) 85.10，85.50； From the downward direction, the lower support84.80。

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.