Zero Hedge, a famous financial blog, said that the total number of drilling wells in the United States fell to a record low, and the number of oil drilling wells also fell to a new low in this cycle, indicating that the number of drilling wells in the United States is accelerating; According to past data, the trend of oil price usually lags behind oil drilling for a period of time; According to the current trend of oil drilling, there may be a cliff-like decline in the next 18 months, and the crude oil production in the United States may be greatly reduced.
However, according to the data released by the Commodity Futures Trading Commission (CFTC) last Friday, as of the week of May 10, the net long position of new york crude oil speculation held by speculators decreased by 26,584 lots to 29 1960 lots, indicating that the bullish sentiment of crude oil is continuously fading.