In addition to the attributes of general commodities, oil also has the attributes of strategic materials, and its price and supply are greatly influenced by political forces and situations. In recent years, with the development of political multipolarization, economic globalization and production internationalization, competing for oil resources and controlling the oil market have become important reasons for the oil market turmoil and soaring oil prices.

2. Changes in oil inventories

Inventory is a buffer between supply and demand and plays a positive role in stabilizing oil prices. The inventory level of OECD has become the vane of international oil price, and the influence of commercial inventory on oil price is obviously stronger than that of conventional inventory. When the futures price is much higher than the spot price, oil companies tend to increase commercial inventory, stimulate the spot price to rise and reduce the spot price difference of futures; When the futures price is lower than the spot price, oil companies tend to reduce commercial inventory, and the spot price drops, forming a reasonable price difference with the futures price.

3. Intervention in the market by the Organization of Petroleum Exporting Countries and the International Energy Agency

The Organization of Petroleum Exporting Countries controls most of the world's excess oil production capacity, and IEA has a large amount of oil reserves, which can change the market supply and demand pattern in a short time, thus changing people's expectations of oil price trends. The main policy of the Organization of Petroleum Exporting Countries is to limit production and protect prices, and reduce prices to protect production. The 26 member countries of IEA * * * control a large amount of oil stocks to deal with emergencies.