Brent crude oil price today

Brent crude oil price today

The International Energy Agency IEA lowered its 208-yeBrent crude oil price todayar global oil demand growth forecast in its latest monthly report, as oil prices hit their highest level in three years and curbed demand. As Venezuela's output fell sharply and the United States re-imposed sanctions on Iran, the market will tighten further. Although the resulting price rebound has improved the economic conditions of oil-producing countries, it also seems to have had an adverse effect. In addition to lowering the demand outlook, stronger prices also prompted IEA to raise its supply expectations for OPEC competitors, especially the United States. This year, the output of non-OPEC countries is expected to increase by 870,000 barrels per day, 50,000 barrels per day more than previously expected. The agency lowered its 208 global demand growth forecast by 40,000 barrels per day to 400,000 barrels per day, and the total demand is expected to be 99.2 million barrels per day.

The EIA data is slightly negative! Market trend: Generally, the market will begin to fluctuate violently as soon as the market comes out. Long and short forces start to compete, and after a rebound of about $0.2, they begin to increase short positions. After breaking the first support below, make a small shock, lure into the market, and then bounce back to shock near the first support! Do not chase the short for this data, mainly short high!

At the beginning of this month, due to trade issues between the United States and the United States, imports of US crude oil have been stopped. It is also the largest importer of US oil in Asia. Losing this big gold owner, US oil suppliers have almost collapsed. Sinopec, the largest buyer of US crude oil, also stopped importing US oil. In fact, in July, imports of U.S. oil fell sharply, from 450,000 barrels per day in the month to half.

The fluctuation of crude oil last week was unreasonable. At first, OPEC and non-OPEC organizations once again reached an oral agreement on freezing production. Oil prices broke through the suppression of $50 in a straight line on Monday, and they are about to test the rhythm of $60 at the end of last year. The continued trend of multi-hair force, the result has been falling since Tuesday. When everyone started to be bearish, API and EIA were both negative on Thursday. Of course, they began to rebound. After the rapid plunge of the EIA data set, the rise would rise. People took the rebound as an opportunity to continue shorting, and ended up in a set. This wave of rebound directly bounced to the aliens. The Asian market continued to rise on Friday, giving many people a feeling that they would be over if they did not enter the market. It plummeted unilaterally.

However, before Qatar announced its withdrawal from the group, Russia had just agreed to cut production, and at the OPEC meeting on February 6th it will also decide on the specific number of cuts. Qatar, now a member of OPEC, suddenly announced its withdrawal. Although it will not have much impact on OPEC's production cuts, it will shake other OPEC members.

The United States launched the second round of sanctions against Iran on the 5th. The sanctions included more than 700 Iranian aircraft, 50 banks, and more than 200 individuals and companies. At the same time, it also announced exemptions for eight countries, which are the mainlBrent crude oil price todayand, Japan, South Korea, India, Italy, Greece, Turkey and Taiwan. At that time, the US Secretary of State announced exemptions for 8 countries. Obviously, these were 7 countries and regions.