CPT Markets：OPECUpregulation of medium - and long-term oil demand forecast to support the oil market! Close this week...

Brentcrude oil (Brent Oil)：

Brent crude oil closed with mixed ups and downs last Friday, maintaining a fixed level, and closed with consolidation83.88Nearby, despite a slight increase in oil prices last week, it still recorded3 The largest weekly decline since the beginning of the month was due to Russia partially lifting its fuel export ban, exacerbating demand concerns caused by macroeconomic unfavorable factors.

In terms of positive factors

OPECUpward adjustment of medium and long-term oil demand forecast:OPECThree sources have raised their medium - to long-term oil demand forecasts in an upcoming report, highlighting the more positive view of the oil export organization compared to other forecasting agencies, despite the global shift towards renewable energy. OPECScheduled10month9Daily Release《2023The latest long-term oil demand forecast will be released in the annual World Oil Outlook. Higher oil demand will have an impact on oil producing countries andOPECBringing a boost and highlighting the necessity of sustained investment. In collaboration with the International Energy AgencyIEACompared to other forecasting agencies, this also highlightsOPECA more optimistic view on the outlook for oil demand. Sources point out that demand is still on the rise. in the past18During the months of high oil prices, oil usage showed resilience.

Factors contributing to mixed data quality

Unexpectedly increased non farm employment in the United States: According to statistics from the US Department of Labor,9Monthly Employment Growth in the United States33.6Wan, far beyond what economists predicted17Wan. The statistical data has mixed opinions on oil prices. Analysts say that a strong US economy may boost recent oil demand sentiment, but on the contrary, statistical data may strengthen the US dollar and increase its impact 2023 The bet of raising interest rates again this year. The strengthening of the US dollar is usually unfavorable for oil demand, making the commodity relatively more expensive for other currency holders.

Press from above(Upper resistance) 83.80，84.20； From the downward direction, the lower support83.40。

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.