Li Ranqing:10month24Japan and Iraq do not reduce production, crude oil continues to short at high levels

Li Ranqing:10month24Japan and Iraq will not reduce production,crude oilContinue to short against highs

        
        
The direction of crude oil prices has always been a topic of concern for market investors, but what will be the direction?From the current situation, there is a possibility for crude oil prices to continue to decline. After the rapid rebound last Friday, why did crude oil open low and move low this morning?Add WeChat ID:tre458Contact Li Ranqing for discussion and exchange!It's not that you can't make money, it's just that you've chosen the wrong team and the wrong people, and endless guidance will only make you deeper and deeper.
         
In fact, there was some pessimistic news in the crude oil market over the weekend. On Sunday, the head of the Iraqi Oil Marketing Organization, Alamri, stated that Iraq(Including the Kurdish region)9The crude oil export volume for the month is387.110000 barrels/Day. And emphasize that Iraq will not reduce crude oil production. Alamri stated that there is no doubt that Iraq's crude oil production has exceeded47010000 barrels/Day. However, no matter what, Iraq will not reduce production in any way, let alone participate in itOPECOr any production reduction plan of any other organization.
              
Based on the current situation, Iraq has expressed unwillingness to joinOPECplan11month30The production restriction agreement discussed in Japan has directly led to a decline in oil prices. ifOPECIf Iraq, the second largest oil producing country, does not participate, it will be difficult to achieve the production reduction target.
               
Since that's the case, there's no reason why crude oil doesn't fall. The current crude oil market mainly needs to pay attention to the position of today's short selling gap4770The nearby pressure, I believe, will also be a good place to short crude oil levels. If nothing unexpected happens, short selling here will bring some benefits. Author Li Ranqing (WeChat)tre458）It is recommended that investors maintain the mentality of continuing to short at high levels.
      
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