Main methods of crude oil analysis

Main methods of crude oil analysis

It fully shows that after the United States became a net exporter of crude oil, its dependence on energy imports has dropped sharply, and OPEC's power to speak in the inteMain methods of crude oil analysisrnational oil market has weakened. As a global energy importer, it is highly dependent on oil imports, which requires stable oil import channels to avoid passive beatings.

According to Agence France-Presse, oil officials from OPEC member states began arriving in Vienna on the 9th. Russia and other non-OPEC member states will also meet in Vienna to negotiate oil production policies with OPEC. Non-OPEC oil-producing countries such as OPEC and Russia have coordinated production cuts since 207, raising the price that once fell to $0 per barrel to more than $70. This production reduction agreement is scheduled to expire at the end of this year.

Judging from the current crude oil trend, the hourly chart shows that although the market fell sharply yesterday, after the market opened today, the market has begun to stop falling and flattened at 660, and the market even started a slight rebound in the afternoon. Although it once broke through $6, But it was immediately suppressed and fell back, which shows that the current 6 US dollars is once again as a pressure level to suppress the original trend. At the same time, the market lacked enough good news to support crude oil breakout. Although it stopped falling, it was unable to counterattack. However, the 5-day moving average in the chart has crossed the rest of the moving averages, temporarily forming a long arrangement. The short-term market can continue to see the 6 US dollars, but whether it can break through, the EIA inventory data released later will be needed to support it. If the data continues to record a decline , The crude oil price is likely to return to above $6. However, if the inventory increases like yesterday's API inventory, I am afraid that oil prices will start a new round of decline. Below, 660 must be prepared to be affected.

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For analysts who are bullish on oil prices, the reasons for rising oil prices are even more obvious. Global oil inventories have returned to the five-year average. For most of the past eight months, OPEC has reduced its oil supply by more than 800,000 barrels per day.

Will be overthrown soon. These words seem to encourage Venezuela to launch a military coup, but it may not be surprising, because an investigation published by the New York Times in early September revealed that the Trump administration had secretly metMain methods of crude oil analysis with Venezuelan military officials in the past year to discuss overthrowing Maduro. government.

Platts reported that despite the clear situation in Venezuela, Australian heavy oil production has been declining due to natural depletion. In fact, the oilfield operator Woodside, which produces Enfield, one of its benchmark heavy oil grades, plans to stop oil extraction in the field by the end of this year.

US Treasury Secretary Mnuchin said on the 0th that according to Trump's decision this week, the US Treasury Department will proceed to cut off the source of funds for the Revolutionary Guards, regardless of where the funds come from, and regardless of their ultimate use. He thanked the UAE government for cooperating with the United States on this matter. The U.S. Treasury Department stated on the same day that the U.S. will restart sanctions against Iran that were exempted by the Iran nuclear agreement from August 7.

At the same time, the U.S. crude oil production has surged, and there are obvious signs of force in the international energy market. US oil companies currently export 500,000 to 2 million barrels of crude oil per day, which may increase to about 4 million barrels per day by 2022. According to the forecast of the International Energy Agency IEA, more than 80% of the global oil supply growth in the next 0 years is expected to come from the United States.