The hottest OPEC report was positive, and the inte

OPEC reports positive international oil prices rebound higher

OPEC reports positive international oil prices rebound higher

May 15, 2018

[China paint information] OPEC's monthly report raised its demand forecast and showed that the phenomenon of excess supply was disappearing. Affected by this, the settlement price of Brent crude oil futures exceeded $78 for the first time in more than three years. However, the continuous growth of shale oil production in the United States restrained the rise of WTI, and the price difference of benchmark crude oil futures in Europe and the United States widened to the largest in five years. On Monday (May 14), the settlement price of WTI crude oil in June futures was $70.96 a barrel, up $0.26 or 0.4% from the previous trading day, with a trading range of 70 26 dollars; The settlement price of Brent crude oil in July was $78.23 a barrel, up $1.11 or 1.4% from the previous trading day, with a trading range of 76 44 dollars. The settlement price of SC crude oil 1809 contract was 468.6 yuan/barrel, down 1.8 yuan or 0.38% from the previous trading day, with a trading range of 462 6 yuan. The trading volume was 168258, and the position was 24488, a decrease of 3648; The total contract turnover was 168392, with a position of 25876, a decrease of 3668, and a total turnover of 78.915 billion yuan

OPEC released its monthly report on the oil market in May. It is estimated that the global economic growth in 2017 and 2018 will grow by 3.8% respectively, and the U.S. economic growth forecast for 2017 and 2018 will be 2.3% and 2.7% respectively. It is estimated that the economic growth of the eurozone in 2017 and 2018 will be 2.5% and 2.2% respectively. It is estimated that Japan's economic growth in 2017 and 2018 will be 1.7% and 1.5% respectively. It is estimated that the economic growth of India and China in 2018 will be 7.3% and 6.5% respectively. 2hra: the hardness obtained by 60kg load and diamond cone press in 2017 will be 6.3 respectively. However, not all testing machines are suitable for the tensile test and 6.9% of flexible packaging materials

OPEC predicts that the global average daily oil demand in 2017 will be 97.2 million barrels, 1.65 million barrels higher than the global average daily demand in 2016. It is estimated that the average daily global oil demand in 2018 will be 98.85 million barrels, an increase of 1.65 million barrels over the average daily demand in 2017, and an increase of 25000 barrels over the forecast in the report last month. The reason for the increase is that the OECD data in the first quarter of 2018 is higher than expected. Oil growth forecasts for non OECD regions have also been raised, including higher than expected demand data from other countries in Asia, India and Latin America

the OPEC report lowered the average daily supply of non OPEC oil in 2017 by 10000 barrels. It is estimated that the average daily supply of non OPEC oil in 2017 was 57.89 million barrels, an increase of 870000 barrels over the average daily supply in 2016. It is estimated that the average daily supply of non OPEC in 2018 will be 59.62 million barrels, an increase of 1.72 million barrels over the average daily supply in 2017 and an increase of 10000 barrels over the previous report. This is based on higher than expected forecasts for the United States, Argentina, Colombia and China in the first quarter of 2018, offsetting the impact of supply declines in Canada, Mexico, Norway, the United Kingdom and Brazil. OPEC's average daily output of liquefied natural gas products and unconventional liquid products was 6.49 million barrels, an increase of 180000 barrels over the average daily output in 2017. According to second-hand data, OPEC crude oil production in April was 31.93 million barrels a day, an increase of 12000 barrels from the daily average in March

OPEC believes that OECD business 2. Buffer oil should be kept clean in March. The oil inventory is 2.829 billion barrels, a decrease of 12.7 million barrels from February and an average increase of 9 million barrels over the past five years. However, the current OECD commercial oil inventory is still 258million barrels higher than that in January 2014. It is estimated that the OECD crude oil inventory in March 2018 was 12million barrels higher than that in the same period of the past five years, and the finished oil inventory was 3million barrels lower than that in the same period of the past five years. In March, the number of days that OECD inventory can meet demand fell to 59.9 days, 1.6 days lower than the average in the past five years

due to the sharp rise in international oil prices, WTI exceeded US $70 per barrel, prompting us shale oil producers to continue to activate drilling platforms. The U.S. energy information administration predicts that the production of seven key shale oil fields in the United States will increase for 18 consecutive months in June and continue to hit a record high. It is estimated that the average daily output of shale oil in these seven regions in the United States in June was 7.18 million barrels, of which Texas increased the most. The daily output of Permian oil fields in western Texas and some parts of New Mexico and Yingtan area in the south of Texas increased by 111000 barrels, while the daily output of experimental instruments purchased by shale in five shale oil production regions outside Texas increased by only 33000 barrels. The report also shows that 7677 oil wells that have been built but have not been completed in these seven regions will reach in April, an increase of 55 over March

according to the OPEC monthly report, although crude oil prices rose significantly in April, speculative net bulls fell. However, the Intercontinental Exchange Brent crude oil bull to short ratio was the highest in history

at the beginning of May, the net speculative long position of Brent crude oil futures continued to decrease. The net long positions held by the management fund in Brent crude oil futures and options decreased by 3.59%. According to the data analysis provided by the Intercontinental Exchange on Monday, as of the week of May 8, Brent crude oil futures and options holdings increased by 95566 hands over the previous week; The managed fund held 569448 net long positions in Brent crude oil futures and options, a decrease of 22009 hands over the previous week. Among them, the number of long positions decreased by 17218 and the number of short positions increased by 4791

the net long positions held by managed funds in Brent crude oil futures decreased by 4.42%. According to the data analysis provided by the Intercontinental Exchange on Monday, as of the week of May 8, Brent crude oil futures holdings increased by 47527 hands over the previous week; The management fund held 548405 net long hands in Brent crude oil futures, down -26512 hands from the previous week. Among them, the number of long positions decreased by 20804 and the number of short positions increased by 5708