CPT MarketsThe US has raised its forecast for oil production growth this year, suppressing the rise in oil prices! ...

Brentcrude oil (Brent Oil)：

Brent crude oil, which closed with mixed gains and losses on Monday, fell to82.09Nearby, the US government previously raised its forecast for this year's crude oil production growth and released economic data that was bearish for the market, but sustained geopolitical tensions limited the decline in oil prices.

In terms of bearish data, on Tuesday, the US Energy Information AdministrationEIAUpgraded the forecast for US oil production growth this year910000 barrels/Day. EIAIn its Short term Energy Outlook report, it is pointed out that US crude oil production will increase this year2610000 barrels/Day, reach1,31910000 barrels/Day. Previously,EIAExpected increase in crude oil production this year1710000 barrels/Day. 2023The annual crude oil production in the United States reached a record breaking level132110000 barrels/Day. UBSUBSanalyst Giovanni Stanovo Indicating that the forecast increase may be due to the assumption of an increase in oil prices. EIAestimate2025US crude oil production will increase in4610000 barrels/Day, reach136510000 barrels/Day.

In addition, on Tuesday, the Organization of the Petroleum Exporting CountriesOPECPersist in its commitment to2024Year and2025The forecast for a relatively strong growth in global oil demand for this year has been further revised up, stating that there is still greater room for growth. OPECAccording to the monthly report, global oil demand will increase this year22510000 barrels/Day, it will increase next year18510000 barrels/Day. Both predictions remain unchanged from last month. Further boost in economic growth will bring additional impetus to oil demand. OPECyes2024The forecast for annual economic growth was already higher than that of the International Energy Agency(IEA)The difference in demand growth forecast between the two is at least16The largest since the beginning of the year. OPECIn the report, it is pointed out that the strong momentum of economic growth at the end of last year is expected to continue into the first half of this year, and the economic growth forecast for this year will be raised0.1One percentage point, this is another upward adjustment after the expected increase last month. OPECIn the report, it is pointed out that although there are still some downward risks, if the expected momentum at the beginning of the year is continued, there will be more upward potential for global economic growth this year. The growth trajectory of India, China, and the United States this year and next may exceed current expectations. Since last year7Since the first release of this year's demand growth forecast,OPECAlways maintain its predictions unchanged.

In terms of bullish data, the Middle East conflict and supply disruptions have supported oil prices this year, although concerns about sustained high interest rates have also had an impact on oil prices. OPECIn the report, it is stated that,2The increase in monthly oil prices is due to the continued strengthening of the fundamentals of the oil market, and it was added that geopolitical tensions have also supported oil prices. 。

Press from above(Upper resistance) 82.00，82.50； From the downward direction, the lower support81.70。

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.