After US President Donald Trump changed his strategy on Wednesday, the positive tone of other risky assets also supported oil prices and rekindled people's hope that the government would at least provide more support for companies facing severe challenges, such as families and airlines.
The supply problem is also very prominent. There are signs that Norwegian oil workers will cause greater interference to local production, and the hurricane delta will also force a large number of production stops in the Gulf of Mexico.
On Thursday, the Organization of Petroleum Exporting Countries released a new long-term world oil outlook report. According to the report, with the recovery of the global economy from the new crown epidemic, by 2022, the global oil demand will increase to 99.8 million barrels per day, higher than the level of 20 19; By 2024, the global oil demand will increase to102.6 million barrels per day, which is lower than last year's forecast of104.8 million barrels per day. It is predicted that the global oil demand will remain stable during the forecast period of 20 19-2045. It is expected that the market share of the Organization of Petroleum Exporting Countries will increase after the COVID-19 epidemic has caused damage to competitors; The decline in demand forecast is due to the persistent impact of the epidemic and its impact on the global economy and consumer behavior. In 2030, oil consumption will increase from 90.7 million barrels per day in 2020 to107.2 million barrels per day; In 2030, it is expected to decrease by 165438+ 10,000 barrels per day compared with last year.
The Organization of Petroleum Exporting Countries also said that global oil demand is not expected to peak until 2030, and it is expected that by 2022, the demand will exceed the peak of 20 19 years.
The news agency quoted the research director of the Organization of Petroleum Exporting Countries as saying that the organization expects to eliminate excess stocks by the middle of next year. However, this will depend on whether global demand can continue to recover. Considering the recent sharp increase in the number of confirmed cases in COVID-19 at the beginning of the winter flu season in Europe and the United States, this situation still seems to be challenging.
Bloomberg reported that the traffic volume of Spain's toll roads decreased by about 20% year-on-year, the largest year-on-year decline since the end of August. The report also said that there was a similar situation on the toll roads in France, while the vehicle usage in Britain only dropped by 3% in mid-September this year, and now it has dropped by 1 1%.
According to the latest data of Forex Eye, the US WTI crude oil futures price is 40.62 USD/barrel, and Brent crude oil futures price is 42.73 USD/barrel.