On Wednesday, Nov. 27, data released by the American Petroleum Association showed that API crude oil stocks in the United States rose 3.6 million barrels in the week ended Nov. 22, expected to drop 347000 barrels; gasoline stocks increased 4.4 million barrels; refined oil stocks fell 665000 barrels; and after the release of the data, U.S. crude oil stocks recovered after a rapid short-term decline. The recent sharp rebound in oil prices, the improvement in international trade situation is one of the factors, OPEC deepening production cuts are expected to rise again is also one of the important drivers.
1. Trade is expected to solve the fundamental problem of 19 years of fatigue in the oil market.
2. The expected reduction of production in the market will be extended to at least March 2020.
3, the oil price is 58.00 structure to attack the land in a short period of time, and the market is much shorter and still has a lot of advantages.
1. Trade is expected to solve the fundamental problem of 19 years of fatigue in the oil market.
Trade expansion has promoted the rapid growth of the global economy, but with the rapid decline of trade volume at a rate of more than 1 percent a year, and the outbreak of trade between China and the United States for nearly a year and a half, the Economic Cooperation Development Organization expects that the global economic growth rate will fall to a decade-low next year. Oil dealers are still looking forward to the signing of the trade agreement, but the prospects for the complete abolition of taxes are still uncertain. The complete abolition of the relevant taxes is a factor that benefits the growth of the economy and oil, which will solve the fundamental problems in the crude oil market since the end of 18 years on the demand side.
2. The expected reduction of production in the market will be extended to at least March 2020.
From December 5 to 6, OPEC will also convene a meeting to discuss oil market policy, and reducing production is one of its important issues.
Data released on Nov. 23 show that the total number of oil wells in the United States fell by three to 671 in the week of Nov. 22, the fifth week of decline. The improvement of OPEC production and performance rate, the expected OPEC reduction in the market will be extended to March 2020, coupled with the growth and release of US crude oil output, these factors add up to double the confidence of crude oil. However, in the near future, the oil price may be misdirected at the OPEC, leading them to believe that there is no need to deepen the production reduction to stabilize the oil price.
3, the oil price is 58.00 structure to attack the land in a short period of time, and the market is much shorter and still has a lot of advantages.
The U. S. crude oil market ran around the situation last week, the market rarely V-shaped walking situation rose to 58.00 above the whole connection, the weekly connection is very long, the actual small cross star K connection, the daily connection is the continuation of the two trading days of the large closure of the sun. What should be paid attention to during the period is that the oil price has not broken through the rising channel formed since the beginning of October. From the point of view of the situation, the oil price still rises at the rate of crude oil.
From a technical point of view, on Monday and Tuesday, the oil price benefited from the short line, and the price rebounded after the near enterprises in the passageway. Yesterday, the long time was in the long struggle for a long time, and the long start was the least, so that the short line was strengthened according to the old situation under the premise that the situation in the middle line was not changed, and the short line was sent out to refresh the demand at the end of the week again, and the short line was sent out to refresh the demand at the end of the week again in order to keep the situation in the middle of the line and the situation in the middle line and the situation on the second day of the week, and the short line was delivered to refresh the demand at the end of the week again. If the intra-day oil price can detect 58.10 pieces successfully, the large percentage will rise to 59.00 below the junction in a relatively short period of time. Because the weekly channel connection is not broken, the short line connection can be multi-machine, but it is not suitable to intensify, and the technical market lacks the upward force of a rapid breakthrough of 58.80 × 59.00.
Compression position: 58.80 branches: 58.00