CPT Markets: The market is skeptical about the economic growth of major Asian countries and is pressuring oil prices! ...

Brentcrude oil (Brent Oil)：

Brent crude oil fell to81.80Nearby, due to market skepticism about whether Asian powers can achieve their economic growth goals, market risk appetite has decreased.

In terms of bearish data, as the world's largest oil importer, Asian powers will2024The annual economic growth target is set at5%This puts pressure on oil prices. Although this target is basically consistent with last year's target and meets analyst expectations, the lack of large-scale stimulus plans to support it has disappointed investors. UBS AnalystGiovanni StaunovoThe growth target is not a problem, but the missing part is how they hope to achieve it--It is currently unclear what kind of stimulus measures will be taken.

In terms of bullish data, the US dollar weakened due to slower growth in the service industry. This provides some support for oil prices. The weakening of the US dollar usually boosts the demand of investors holding other currencies, thereby supporting oil prices. Tuesday American Association for Supply ManagementISMAnnouncement,2Monthly Non Manufacturing Purchasing Managers IndexPMIfrom1Of53.4Slide down to52.6The growth of the service industry has slightly slowed down, but the new order indicator has risen to a six month high, indicating that the industry The potential strength of. ISMThe survey results show that the comments of service industry enterprises are generally optimistic, and indicate that labor shortage is still a constraining factor for some enterprises. In addition, there is no sign of inflation rebounding after the price jump at the beginning of the year, which is good news for Federal Reserve officials. In terms of supply, the Organization of the Petroleum Exporting Countries OPEC And its allies OPEC+ Agreed to voluntarily reduce production in total 220 10000 barrels/The daily oil production has been extended to the second quarter. Saudi Arabia announces its intention to extend its voluntary production reduction10010000 barrels/The deadline for the day. Russia also promises to further reduce oil production and exports 47.1 10000 barrels/Day. In addition, Iraq and the United Arab Emirates have agreed to continue reducing production separately2210000 barrels/Rihe16.310000 barrels/Day.

Press from above(Upper resistance) 81.80，82.10； 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.