1, the relationship between supply and demand

As a joint economic organization between governments of oil consuming countries, the International Energy Agency has provided estimated data that have not been officially confirmed by relevant countries, showing that Saudi Arabia and the United States are the world's largest producers and consumers of crude oil respectively. Among them, the top ten producing countries (million barrels per day) are Saudi Arabia (10.72), Russia (9.67), the United States (8.36), Iran (4. 15), China (3.84) and Mexico (3.7/kloc-). The top ten consuming countries (million barrels per day) are the United States (20.59), China (7.27), Japan (5.22), Russia (3. 10), Germany (2.63), India (2.53), Canada (2.22) and Brazil (2. The output changes of these oil-producing countries are directly related to the front-end supply of crude oil industry, and the fluctuation of domestic economy in consumer countries will directly affect the consumption of crude oil. In addition, geopolitics in the Middle East often leads to a short-term rapid rise in oil prices.

2. Dollar

Crude oil is priced in US dollars in the international trade system, and the strength of the US dollar naturally affects the price of crude oil.

3. Economic factors

Crude oil is the king of commodities, and it is basically used in all aspects of daily life. The sales volume of crude oil is directly related to the economic cold and heat. When the global economy enters a stage of recovery or even prosperity, the demand for crude oil naturally increases, and vice versa.

In the global economic system, the focus should be the economic performance of the United States. On the one hand, the US economy directly affects the performance of the US dollar, which in turn affects the pricing of crude oil. On the other hand, as the world's largest consumer of crude oil, the cold and hot economy directly determines the consumption demand of crude oil. Secondly, China's economic performance. China is the second largest consumer of crude oil in the world, and its economic trend directly determines the demand for crude oil.

4. Economic information

On the supply side, pay attention to the crude oil production announced by the Organization of Petroleum Exporting Countries at 22: 30 every Wednesday night in Beijing time and the EIA crude oil inventory announced by the United States. Secondly, in terms of economic data, we should pay attention to a series of indicators such as GDP, job market, real estate market, industrial output and PMI in the United States, as well as GDP and PMI in China.