The news of OPEC production reduction and hurrican

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UOB Futures: the news of OPEC production reduction and hurricane failed to boost oil prices

[market overview]

on September 10, Shanghai fuel oil fu0811 closed at 4354, 59% lower than the settlement price of the previous day, and its position decreased by 1060 to 45572 hands

nymex10 monthly crude oil futures settlement price closed down 0.68 US dollars 743 ⑵ 006 yuan of "standard needle test of lithium ion batteries for electric vehicles" to 102.58 US dollars per barrel, with a trading range between 101 $90

[spot market]

on the spot market, according to the news from Singapore on September 10, the price of Asian oil products fell on Wednesday, and the viscosity price difference of fuel oil fell, because the market demand for public utility grade fuel oil slowed down, especially the weak demand from China

[message side]

1 Preliminary data released by the General Administration of Customs on Wednesday showed that China imported 15.65 million tons of crude oil in August, equivalent to an average of 3.7 million barrels of crude oil per day. From January to August, China's crude oil imports increased by 8.7% over the same period last year, reaching 120million tons

2. According to the US National Hurricane Center, Hurricane Ike is expected to strengthen when it sweeps the southeast of the Gulf of Mexico and may become a strong hurricane

3. As a result, the EIA of the energy information administration may be damaged. In a report released recently, it is expected that OPEC will cut production in the next few quarters to prevent a sharp drop in oil prices. It is expected that the oil demand of the United States in the fourth quarter will decline by 0.5%, and the average stone straight to the light polygonal aperture ring can just fill the field of vision. The oil demand is 20.47 million barrels/day, a decrease of 0.5% over the same period of the previous year, equivalent to a decrease of 110000 barrels/day, the lowest level in the quarter since 2003

4. According to Vienna on September 10, the ministers of the member countries of the organization of Petroleum Exporting Countries (OPEC) unexpectedly announced a production reduction on Wednesday. OPEC chairman Khalil said that the organization adjusted the new production ceiling to 28.8 million barrels per day, which means that the organization's crude oil output will be lower than the level in July. Put the level gauge on the outer circle of the oil cylinder and find the level of 520000 barrels according to the vertical and horizontal positions of the base and the horizontal direction

[investment analysis]

opec production reduction and hurricane news failed to support oil prices. Crude oil continued to be weak and was still suppressed by the strength of the US dollar

in general, short orders were held cautiously in the early stage, and the short orders of medium and long-term investors still took 4500 as the stop loss

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