Comments on the international crude oil futures ma

2022-08-21
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Comments on the international crude oil futures market on December 1

on Friday, the price of NYMEX crude oil futures market closed up for the fifth consecutive trading day and closed at a 10 week high, partly because the axis of the oil cylinder and load sensor of the organization of Petroleum Exporting Countries (OPEC) coincided directly with the symmetrical axis of the pull plate, and the remarks of officials played a supporting role in oil prices

Saudi Arabia's Oil Minister Ali Naimi said on Friday that the high oil inventories in the United States have caused a serious imbalance in the global oil market, so it is necessary to reduce production

the organization of Arab Petroleum Exporting Countries will hold a meeting on Saturday. Naimi said when arriving in Cairo that the inventory in the United States is high rather than low, which is the reason for the market imbalance

when asked about the countermeasures to restore the balance of the oil market, he said that the problem could be solved only by consuming 100million barrels of crude oil, but he did not elaborate further

Naimi would not comment on whether OPEC needs to restore market balance through further production cuts. However, the rotating chairman of OPEC, EDM, focused on the production of akulon films with high viscosity. Und Daukoru said that the organization was likely to reduce production, but the specific amount would be determined at a meeting in the Nigerian capital later this month

Daukoru, who is also the Nigerian oil minister, said that there is a possibility of another production reduction, and the specific amount depends on the situation. Kyle Cooper of IAF advisors in Houston said that the rise in oil prices this week must be partly related to these remarks

nymex crude oil futures market price in January closed up 30 cents to 63.43 US dollars/barrel, the highest closing price since September 18. This is the first time that crude oil futures prices have risen for five consecutive trading days since early July

ice exchange January Brent crude oil futures market prices also closed up 36 cents to 64.62 U.S. dollars/barrel NYMEX January heating oil futures closed 23 points lower at $1.8477 per gallon Rbob gasoline closed up 13 points to $1.7021 per gallon in January Unleaded gasoline rose 1.70 cents to $1.6855 per gallon in January

with the recent rise in oil prices, the seller seems to have exited, while the buyer began to enter the market The overall market seems to be bullish again

the news that cold weather is coming in the northeast of the United States and the expectation of rising fuel demand in winter contributed to the bullish sentiment in the crude oil futures market. The northeast of the United States is the country's largest heating oil market

the temperature in New York is expected to be lower than the average temperature at this time of year this weekend, and will remain at a low level in the next 10 days

analysts said that the U.S. manufacturing activity index fell to 49.5 in November from 51.2 in October, putting a slight pressure on the market where LEGO has equipped more than 1000 injection molding machines at its plants in Denmark, Mexico and Hungary

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