International oil prices rebounded sharply on Thursday, with Brent crude oil futures and US crude oil futures both soaring by more than 10%, recovering the huge lost ground during the global market turmoil earlier this week, which benefited from market speculation that Venezuela called for an emergency meeting of the Organization of Petroleum Exporting Countries, the global stock market rebound and the slowdown in supply, which gave birth to a short covering-style rebound.
The Wall Street Journal reported that Venezuela contacted members of the Organization of Petroleum Exporting Countries and urged an emergency meeting with Russia to work out a plan to curb the sharp drop in oil prices.
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Summary of commonly used institutions and abbreviations in international oil market
1, Organization of Petroleum Exporting Countries: The Organization of Petroleum Exporting Countries was established in 1960 with 12 member countries, and its oil reserves account for 77% of the world's total oil reserves. It is an international organization that has the greatest impact on international oil prices.
2. IEA: The full name is the International Energy Agency, which is an international organization that coordinates and guides international energy work. Founded in 1974 and headquartered in Paris, France.
3.EIA: us energy information administration, a statistical agency under the US Department of Energy, aims to provide accurate and independent judgment, prediction and analysis for crude oil investors.
4.API: api gravity, an American oil industry organization, provides weekly important data on American oil consumption and inventory level, which was established in 19 19.
5. NYMEX: New York Commodity Futures Exchange, which mainly trades energy products, futures and options.
References:
Baidu encyclopedia-oil price