Gui Chenxi, chief energy analyst of CITIC Futures, told the First Financial Reporter. The recent oil price rhythm is highly related to the geopolitical process, but the overall price is still in the range of 90- 100 USD per barrel. The fierce game of long and short forces is the main factor supporting the recent rebound of international oil prices. Faced with this news, Saudi Arabia, the largest oil producer of the Organization of Petroleum Exporting Countries, hinted that OPEC+may cut production and prevent the international oil price from falling. As early as the last round of price adjustment window opened, industry analysis showed that this round of oil prices will rise. At that time, the view was that the global energy system was once again severely tested by the risk of supply chain interruption. If the European energy crisis continues to escalate, it will eventually affect the oil market and support prices.
Yang Xia, a refined oil analyst at Zhuo Chuang Information, pointed out that in the early stage of this pricing cycle, boosted by Saudi Arabia's remarks on production reduction, although Middle Eastern countries have been negotiating, the crude oil price trend is strong and fluctuates greatly, which drives the crude oil change rate to rise in the positive fluctuation range. The persistence and extent of oil price decline still need to be comprehensively evaluated according to the production strategies of floating oil-producing countries such as Saudi Arabia. The current statements of Saudi Arabia and other countries show that they are less tolerant of falling oil prices and may adopt appropriate hedging strategies to balance global supply. Ma, an analyst of Jinlianchang refined oil products, believes that OPEC+production reduction will still support the trend of crude oil prices, so the probability of a new round of negative interest rate change rate narrowing is greater, and the possibility of turning positive will not be ruled out later.