After the international oil price rushed to 80 US dollars per barrel within a short period of time, it once again fell below 80 US dollars per barrel and continued to decrease. On the 28th, the New York Mercantile Exchange's light crude oil futures for December delivery closed at US$77.46 per barrel, down US$2.09 from the previous trading day. London’s North Sea Brent crude oil futures for December delivery dropped US$2.06. On the 29th, international oil prices continued this trend of callbacks.
In recent days, international oil prices have fallen sharply, mainly due to the unexpected increase in US commercial gasoline stocks and the continued rebound of the US dollar exchange rate. According to the latest inventory data released by the Energy Information Agency under the United States Department of Energy on the 28th, as of October 23, US commercial gasoline stocks increased by 1.7 million barrels compared with the previous week, after the market expected the inventory to drop by about 1 million barrels. The inventory report lowered optimism about the recovery of the economy and demand, leading to a sharp drop in oil prices, which was once close to 3%. On the other day, the dollar exchange rate continued to rebound, causing the prices of crude oil and metal futures to fall.
Some analysts said that the US stock market seems to have peaked, and people can not help but worry about whether the price of oil is the same. If the stock market falls, oil will obviously be more vulnerable because the recent high oil prices have no fundamental support. From the situation in recent days, the stock market has cooled significantly. On the 28th, the three stock indexes of the New York Stock Exchange suffered a heavy setback, with the Dow Jones Index falling by 120 points and the Nasdaq Index falling by more than 2.5%.
Experts from the China Energy Strategy Research Center believe that although there are signs of recovery in the global economy, oil demand has not seen any substantial improvement. Therefore, whether the oil price breaks through 80 US dollars or falls back to 70 US dollars in a short period of time, it is more fundamental. External factors influence. Therefore, the next wave of oil price fluctuations may intensify.
Kayal, senior vice president of Saudi Arabian National Petroleum Corporation, told the media recently that we will not forecast international oil prices past, present and future because no one can accurately predict oil prices. Changes in supply and demand will certainly affect the changes in oil prices, and the supply and demand situation will be affected by the development of the global economy. Therefore, the next step in the global economy is still the focus of the oil market.
It is worth noting that there have been reports in the media that Russia has received an invitation from the OPEC emergency meeting to be held in Angola in December. The theme of the meeting is that the member countries of the organization will change their oil policy as the world economy gradually emerges from the global economic crisis. Judging from this information, OPEC has the potential to increase oil production and increase market discourse rights in light of expectations for a global economic recovery.
In recent years, the large fluctuations in international oil prices have caused great trouble to the world oil market and even the economies of various countries. However, its positive significance is to promote major energy-consuming countries to optimize their energy structure. Major measures such as the United States and other oil-demanding countries to accelerate low-carbon economy and new energy are measures. An illustration. In this case, energy conservation will become a common topic for all major demand countries in the future.
In recent days, international oil prices have fallen sharply, mainly due to the unexpected increase in US commercial gasoline stocks and the continued rebound of the US dollar exchange rate. According to the latest inventory data released by the Energy Information Agency under the United States Department of Energy on the 28th, as of October 23, US commercial gasoline stocks increased by 1.7 million barrels compared with the previous week, after the market expected the inventory to drop by about 1 million barrels. The inventory report lowered optimism about the recovery of the economy and demand, leading to a sharp drop in oil prices, which was once close to 3%. On the other day, the dollar exchange rate continued to rebound, causing the prices of crude oil and metal futures to fall.
Some analysts said that the US stock market seems to have peaked, and people can not help but worry about whether the price of oil is the same. If the stock market falls, oil will obviously be more vulnerable because the recent high oil prices have no fundamental support. From the situation in recent days, the stock market has cooled significantly. On the 28th, the three stock indexes of the New York Stock Exchange suffered a heavy setback, with the Dow Jones Index falling by 120 points and the Nasdaq Index falling by more than 2.5%.
Experts from the China Energy Strategy Research Center believe that although there are signs of recovery in the global economy, oil demand has not seen any substantial improvement. Therefore, whether the oil price breaks through 80 US dollars or falls back to 70 US dollars in a short period of time, it is more fundamental. External factors influence. Therefore, the next wave of oil price fluctuations may intensify.
Kayal, senior vice president of Saudi Arabian National Petroleum Corporation, told the media recently that we will not forecast international oil prices past, present and future because no one can accurately predict oil prices. Changes in supply and demand will certainly affect the changes in oil prices, and the supply and demand situation will be affected by the development of the global economy. Therefore, the next step in the global economy is still the focus of the oil market.
It is worth noting that there have been reports in the media that Russia has received an invitation from the OPEC emergency meeting to be held in Angola in December. The theme of the meeting is that the member countries of the organization will change their oil policy as the world economy gradually emerges from the global economic crisis. Judging from this information, OPEC has the potential to increase oil production and increase market discourse rights in light of expectations for a global economic recovery.
In recent years, the large fluctuations in international oil prices have caused great trouble to the world oil market and even the economies of various countries. However, its positive significance is to promote major energy-consuming countries to optimize their energy structure. Major measures such as the United States and other oil-demanding countries to accelerate low-carbon economy and new energy are measures. An illustration. In this case, energy conservation will become a common topic for all major demand countries in the future.
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