1. It will go up. After all, fossil resources will be less and less. On August 3rd 15:00, Beijing time, the New York Mercantile Exchange crude oil futures in September was quoted at USD 43.54 per barrel, up USD 0.24 from the previous trading day, and the trading range was USD 43. 17-43.58 per barrel.

2. Depressed by the devaluation of RMB arranged by China and the growing conviction of the market that the global demand for crude oil can't keep up with the strong growth of supply. Estimates of the Organization of Petroleum Exporting Countries (OPEC) show that non-OPEC members may maintain high production despite low oil prices. Traders said that the failure of BP's refinery in Indiana may last for at least one month, and the crude oil distillation equipment with a daily capacity of about 240,000 barrels will be suspended, which makes the market more bearish. For more than a year, the oil price fluctuated greatly, and this trend continued in summer, which made the price lower than the low point hit in spring.

3. The new data shows that the oil production of the United States and the Organization of Petroleum Exporting Countries is still close to the highest level in history. This shows that suppliers all over the world are still competing for consumers. They increased production and reduced prices by nearly 60% from the high point of 20 14. The latest shock came from China. On Tuesday, China arranged a one-time devaluation of the RMB by nearly 2%, spreading pessimism among investors about China's economy and possibly triggering a currency war.