CPT Markets：OPEC+Extend the voluntary oil production reduction agreement to support oil prices! Follow within the day...

Brentcrude oil (Brent Oil)：

Brent crude oil rose to81.88Nearby, yesterday's US inflation data suggested that the world's largest economy was weak, which may weaken crude oil demandOPECThe increase in production also suppresses oil prices, which are2Last transaction of the month The sun rises and falls again.

In terms of Lido data, the oil demand in the United States is2023Soaring to a four-year high, expected2024It will remain around this level throughout the year. US Energy Information AdministrationEIAAccording to data released on Thursday, the domestic fuel consumption reached2,02310000 barrels/Day. The agency claims that demand in the United States is expected to continue to strengthen to an average this year2,03910000 barrels/Day, slightly lower than2019Annual level. Market participants are closely monitoring oil demand forecasts, as the world is moving towards a turbulent situation of oversupply. In recent years,EIADue to underestimating US demand in weekly reports but significantly increasing monthly data, it has been criticized. EIAIn Thursday's report12The estimated monthly aviation fuel demand has been raised5%。 The institution also updated year-end gasoline and diesel consumption data. In addition,OPEC+The extension of voluntary oil production reduction agreements by oil producing countries has also been put on the agenda. OPECAnd its allies last year11Yue agrees to reduce production in the first quarter under the leadership of Saudi Arabia22010000 barrels/Day. OPEC+We are considering extending the voluntary oil production reduction period to the second quarter, which may lead to market tightening. Analysts from ANZ Bank stated in a report that as the demand outlook remains uncertain, we believeOPECThe current supply agreement will be extended until the end of the second quarter.

In terms of bearish data, the Federal Reserve's preferred inflation indicator - US personal consumption expenditurePCEExponential display,1Monthly inflation met the expectations of economists, therefore it was retained6The possibility of monthly interest rate cuts. Federal Reserve policymakers are not in a hurry to cut interest rates because they need to observe more data to confirm that inflation rates will return2%The expected level. Again Capital LLCpartnerJohnKilduffThe mixed economic data will help support the Federal Reserve's interest rate cut, thereby supporting oil demand. At the same time, these cuts will come as the economy is slowing down, which will affect oil demand. In addition, official data shows that crude oil inventories in the United States, the world's largest oil producing country, have increased for the fifth consecutive week, increasing420Ten thousand barrels, exceeding expectations270Ten thousand barrels. Strategic oil reserves have increased by approximately 3/40 Ten thousand barrels, this is from the government 12 The pace that has been pursued since mid month. The United States continues to increase its oil reserves, although at a relatively slow pace and with a relatively low foundation. At this speed, it is necessary to7More than a year of replenishment time is needed to restore reserves2021year4The stable level of the month. Admittedly, this situation is simply impossible to occur because the United States has become a net exporter, with less demand for these reserves than at the end of the last century.

In summary, oil prices have fallen due to economic data suggesting a decrease in demand and supply-demand contradictions, butEIASignificant upward revision in monthly dataOPEC+Oil producing countries extend voluntary oil production reduction agreements to support oil prices; Key focus for the day will be on European and American manufacturing industriesPMIdata

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.

Press from above(Upper resistance) 81.80，82.20； From the downward direction, the lower support81.50。

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.