Further decline in international oil prices

Huitong Network3month1Daily News - Wednesday(3month1day)International oil prices have further declined, and the increase in US oil production has put pressure on the market. HoweverOPECThe reduction in production continues to provide support. Oil market investors await the American Energy Data Association(EIA)The weekly oil inventory data to be released on Wednesday.

As of publication deadline, United Statescrude oilTrading in53.85dollar/Bucket, slight decline0.30%; Brent crude oil changed hands at56.39dollar/Bucket, slight diarrhea0.23%。

"The signs of recovery in the US shale oil industry are dragging down the oil market," ANZ Bank said in a report.

US crude oil inventories have increased for the seventh consecutive week. Tuesday(2month28day)According to a Reuters survey released, commercial crude oil inventories in the United States increased for the eighth consecutive week last week. Eight analysts surveyed predicted on average that US crude oil inventories increased by approximately310Ten thousand barrels. This is worrying that demand growth may not be enough to digest the global surplus of crude oil.

American Petroleum Institute(API)On Tuesday, it was announced that as of2month24During the current week, US crude oil inventories increased250Ten thousand barrels, to5.18Billion barrels, gasoline inventories unexpectedly increased last week, and distillate inventories fell more than expected.

According to a Reuters survey released on Tuesday, boosted by Saudi Arabia's significant production reduction,2monthOPECThe second consecutive month of production reduction has further increased the implementation rate of the reduction.

Reuters Commodity and Energy Market Technical Analyst Wang Tao said that Brent oil prices seem to be at a per barrel level55.93-57.26The US dollar exhibits a volatile operating pattern, and only by breaking free from the constraints of this range can a unilateral trend be expected to be interpreted.

American crude oilfuturesIt is possible to slightly increase to each barrel54.28If the resistance level of the US dollar breaks through, it is expected to further explore upwards54.62USD.
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