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If you see someone winning a lottery ticket in the newspaper, how many people will choose to buy it, thinking that luck has no reason not to favor themselves, but if you see a car accident on the Internet, you will get it because of buying insurance Compensation, most people will not buy insurance because of this, thinking that such a tragedy will not happen to them. This is like the greed and luck of human nature in investment!
Beijing time on Saturday (July 2): The total number of oil drilling rigs in the United States for the week to July was announced, which was higher than the previous value. The total number of rigs drilling in the United States has increased for consecutive weeks, hitting the highest level since January. Oil prices fluctuated slightly after the data was released.
On Friday night, oil prices were suppressed mainly because the U.S. dollar index broke through the mark again today. In addition, some analysts believe that if oil prices remain above the U.S. dollar/barrel, it will stimulate U.S. oil producers to increase production. Therefore, the market expects U.S. drilling data to continue to record records. needs to increase, and oil prices may be dragged down as a result. However, in the early hours of Saturday morning, Venezuelan Oil Minister Pino promised that OPEC would cut production in October
However, according to columnists, crude oil demand is expected to be weak this year, and crude oil supply from some oil-producing countries will increase, even if some published data contradict this. However, oil market participants need not be too discouraged. If OPEC oil-producing countries really reach a consensus on reducing production, oil prices will surely usher in a spring.
Total oil inventories in March were .000 billion barrels, down from the record-breaking number of .000 billion barrels in May. Crude oil inventories in the United States, Japan and South Korea fell by 0.0 million barrels. Driven by this, the Organization for Economic Cooperation and Development (C) countries Total inventories of petroleum and petroleum products decreased by 10,000 barrels, but an increase of 10,000 barrels of refined oil products offset the effect of the decline in crude oil inventories. From a macro perspective, this may not mean much, but the fact that inventories actually decreased is a positive sign when everyone thought inventories would increase.
In addition, the famous foreign financial blog r stated that the price of crude oil priced in US dollars has been % higher than the US dollar price. And since an interest rate hike at the end of the year is a high probability event, oil prices are likely to rise further. However, Goldman Sachs believes that the production reduction agreement is not enough to change the current oversupply situation in the crude oil market.
The head of the commodity research department said that the global crude oil market will still maintain a pattern of oversupply. The reason is that Nigeria and Libya will resume production, and U.S. shale oil production will also return to the market, making it difficult for oil prices to exceed US$/barrel. R, an analyst at Pacific Investment Management Company, said:
In addition to the current market crude oil price depending on the production limit agreement of OPEC and other countries, the bigger variable comes from the United States. Once oil prices return to US$/barrel, US shale oil producers will continue to resume production. Previously, U.S. shale oil production required an oil price of USD/barrel to maintain breakeven. However, under the impact of low oil prices in OPEC countries, these institutions have reduced production costs to USD/barrel through technical reforms. This is also the biggest bargaining chip for Goldman Sachs to gamble on the difficulty in rising oil prices. Since the beginning of this year, U.S. shale oil production has increased from 10,000 barrels/day to 10,000 barrels/day. &r
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Analysis on investment promotion situation of Northwest Bulk Exchange