As a big consumer of crude oil and the global influence of the New York Futures Exchange, crude oil futures trading based on WTI in the United States has become the leader of global commodity futures. The international oil price basically refers to the US crude oil futures.
American crude oil is one of the crude oil contracts of NYMEX (the New York Mercantile Exchange). WTI contract is based on Texas light and low sulfur crude oil and spot trading, which has become an important part of the world crude oil pricing system! All crude oil produced or sold in the United States is priced based on WTI with light weight and low sulfur. (West Texas light and low sulfur crude oil is imported from Canada and Mexico, and then transported to the midwest and coastal areas of the United States for refining, with low viscosity and low sulfur content, accounting for only 0.24%. This crude oil is most suitable for refining gasoline, diesel oil, hot fuel and aircraft fuel, and it is a kind of crude oil with high utilization rate. )
Fundamental Analysis
As one of the most important commodities in the world, American crude oil companies reflect the trend of the global crude oil market. First of all, we should analyze "supply and demand" from the most basic level of commodities! Therefore, we should study the oil production of major oil producing countries and the consumption trend of major oil consuming countries. For oil-producing countries, we can study the corresponding data of several representative countries and organizations, 1, US, US shale oil and US crude oil inventories; 2. The trend of the Organization of Petroleum Exporting Countries, namely the Organization of Petroleum Exporting Countries; 3. Saudi Arabia; 4. Iran; 5. Iraq. These are several typical examples.
First of all, American shale oil dropped a "nuclear bomb" on the international crude oil market because of crazy exploitation, which led to a large number of international oil-producing countries triggering a global oil price war for self-protection, and the war has not yet subsided. Many once rich oil-producing countries are on the verge of bankruptcy in this oil price war. The most typical example is that in the analysis of 360 Jubao, Venezuela, a once super-rich country, actually experienced the embarrassment of people grabbing food on the street. In the United States, the US government controls the price of WTI crude oil futures contracts in various ways, including the conventional energy data of the US Department of Energy (DOE) and the Energy Information Administration (EIA) every Wednesday and the weekly position report of the US Commodity Futures Trading Commission (CFTC). These data are known in China, and only professional "crude oil technical analysis service institutions" can intercept and analyze them. Since 2008, some "crude oil technical analysis service agencies" have found that WTI prices have obviously deviated from the spot market many times. This caused dissatisfaction with the international crude oil spot and threatened to give up WTI pricing. At the end of 2009, Saudi Arabia proposed to abandon WTI and switch to the OPEC oil price package. However, in the short term, WTI, like the dollar, is controversial, but its lack of dominance remains unshakable.