65438+1October 22 new york crude oil futures prices rose sharply by 2.8% to $47.78 a barrel on Wednesday, as oil giants TOT and ENI announced that they would cut investment.
The american petroleum institute (API) and the Energy Information Administration (EIA) under the US Department of Energy will release the inventory reports of crude oil and petroleum products for the week ending June 65438 and1October 65438 respectively later today and tomorrow. Analysts on average expect the US crude oil inventory to increase by 2.5 million barrels this week, gasoline inventory to increase by 6.5438+0.5 million barrels, and distillate oil (including diesel oil and heating oil) to increase by 6.5438+0.67 million barrels.
? The gap between American and global oil prices is narrowing, indicating that American crude oil imports are increasing. The crude oil inventory has now reached 387 million barrels, which is expected to exceed the historical record of 399 million barrels set in April last year, thus further putting pressure on oil prices.
In addition, affected by the fall in oil prices, the Bank of Japan lowered its recent inflation outlook on Wednesday, and predicted that the oil price would rise to around $70 per barrel in March 20 17.
? Recently, the price of crude oil in new york has risen, but this is the result of the reduction of investment by the crude oil giants. The bleak prospects for global economic growth have also put pressure on the crude oil market. The strength of the US economy and the decline in crude oil prices are not enough to offset the difficulties faced by the euro zone and emerging markets.