CPT MarketsThe joint efforts of the two countries to reduce oil exports have caused oil prices to reach a new high of four and a half months!...

Brentcrude oil (Brent Oil)：

Brent crude oil rose sharply after closing high on Monday, and opened today with a rise of86.33Nearby, climbing up about2%To a four month high, due to reduced crude oil exports from Iraq and Saudi Arabia, as well as signs of stronger demand and economic growth from China and the United States.

In terms of Lido data, the Organization of the Petroleum Exporting CountriesOPECThe second largest oil producing country, Iraq, has stated that it will reduce its crude oil exports to33010000 barrels/Day to offset1Since the beginning of the month, exports have exceededOPEC+The portion of the quota, this commitment will lead to a decrease in Iraq's crude oil exports compared to last month1310000 barrels/Day. OPECSaudi Arabia, the largest oil producing country, has seen its crude oil exports decline for the second consecutive month, starting from12Of630.810000 barrels/Daily decrease1Of629.710000 barrels/Day. Meanwhile, according to analysis, attacks on energy infrastructure in Russia and Ukraine led to approximately7%The refining capacity has been shut down. On the other hand, in China, the world's largest importer of oil,1-2The better than expected monthly factory output and retail sales indicate a stable start to the Chinese economy this year, which also provides some comfort for policy makers. Due to refineries increasing production to meet the strong demand for transportation fuel during the Lunar New Year travel period, China1Month and2The monthly crude oil throughput has increased compared to the same period last year3%。

In addition, the US Secretary of Energy Jennifer Granholm Indicating that the year-end strategic petroleum reservesSPRThe crude oil inventory in China will reach or exceed the level before the large-scale sales two years ago, which is expected to boost oil demand. This year's stronger than expected US economic growth and higher inflation rates have led investors to shift their expectations of the Federal Reserve's first interest rate cut from5Month postponed to6And reduced bets on the number of possible interest rate cuts this year. Lower interest rates will lower the cost of purchasing goods and services, thereby promoting economic growth and increasing oil demand.

Press from above(Upper resistance) 86.30，86.70； From the downward direction, the lower support85.90。

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.