Zhuo Chuang information pointed out that although demand is still a problem of concern to the market, the strong US dollar and the forecast of US crude oil inventory decline and other good news drove the market, and the overall international crude oil showed a volatile upward trend. Driven by this, the rate of change is in a positive range and rising.
It is expected that the next round of price adjustment will run aground
The Joint Ministerial supervisory committee of the organization of Petroleum Exporting Countries (OPEC) and non OPEC oil producing countries held a regular meeting on the 19th. Analysts believe that the recent deterioration of the new crown epidemic in many countries, the international crude oil market demand may be weak again, at the same time, Libyas crude oil production is rapidly recovering, leading to an increase in market supply. In this context, major oil producing countries may adjust their production reduction policies to stabilize oil prices.
Liu Ting, an analyst with Longzhong information, pointed out that in the winter, gasoline and diesel demand has entered a slow downward phase, and the demand boost is weak, but the price of gasoline and diesel still has strong support. In terms of export, the export of refined oil in the first half of the year is relatively slow, and the export pace may be accelerated in the fourth quarter, which can alleviate the pressure of excess supply of domestic gasoline and diesel to a certain extent.