As Alphali said to Russia's Alexander Novak, seeking long-term stability in oil prices does not exist. At the same time, it is recommended that they switch from using outdated oil inventory data to expectations for future oil U.S. crude oil inventories do not include strategic oil reservesindustry investment plans that have almost nothing to do with the balance of market supply and demand, which may aggravate short-term fluctuations in oil prices.
Summary: Today's crude oil prices will usher in two major events in the evening. The details of the US sanctions against Iran will be released tonight. At the same time, the mid-term elections in the United States will be held tomorrow, and relevant information will gradually be exposed, and crude oil prices may have a big market.
Judging from the trend of crude oil after the opening on Thursday, today's oil prices opened slightly higher and maintained at a relatively high point after the opening. The focus is on whether crude oil in Europe and America can maintain and continue this long market. The current oil price distance is 72 The U.S. dollar is only one step away, and this week's market's shock range is between 70-72 U.S. dollars. If it can successfully break the position, it will be a good help for the crude oil trend next week, and may even start a new round of rising prices.
These companies do not spend money on new projects. They are reducing debt while creating cash for skeptical investors through stock buybacks or paying higher dividends. However, the International Energy Agency IEA warned that if new oil projects are not invested, the world may fall into a shortage of supply after 2020.
Japan has repeatedly sought immunity from the United States because Japan, unlike many other countries, has about half of its annual oil imports from Iran. Therefore, if we really want to stop importing Iranian oil, the impact on Japan is still great. But in the end, Japan did not withstand the pressure of the United States. Last month, it publicly stated that it would completely stop importing Iranian oil and instead purchase it from other regions, such as Saudi Arabia and other countries.
The U.S. Energy Information Administration EIA released a report on May 9 on Wednesday, showing that as of the week of May 4, U.S. crude oil inventories decreased by 270,000 barrels to 800 million barrels, a market estimate of a decrease of 790,000 barrels. Refined oil inventories in the UU.S. crude oil inventories do not include strategic oil reservesnited States fell by 70,000 barrels, and recorded a decline for 5 consecutive weeks. The market is expected to decrease by 50,000 barrels. U.S. gasoline inventories fell by 240,000 barrels, and the market estimated a decrease of 450,000 barrels.
The well-known financial blog site Zerohedege commented that last week Russia’s crude oil inventories recorded the largest increase since 2008, which is in line with media reports that Russia seeks to reduce the intensity of production cuts. The market faces selling pressure before the API data is released. API data showed that crude oil inventories unexpectedly increased, and WTI and RBOB gasoline futures prices fell further.