let's take a look at the development steps of this influence of oil on the formation of USD/EUR. Let's talk about the big background of oil rising to such a high position. In fact, is it true that international oil is produced less and used more now? Actually, it's not. I read a piece of data some time ago. In the whole global market, the daily output is about 8.3 million barrels, and the daily consumption is 8.7 million barrels. If we just look at this figure, we should say that crude oil is enough. Then the price of crude oil should not rise to such a high position from this perspective. However, in the past few years, crude oil has been in a very low position, whether it is its production or other aspects, so the investment in crude oil production and some auxiliary production tools in the market is very insufficient. This is a potential factor leading to the rising price of crude oil. On the other hand, an important reason for the high price of crude oil is that some speculators and futures in a market see that crude oil has a very low position. They keep buying crude oil futures to hoard crude oil, and then find an excuse to push crude oil to a very high position to make a profit. This is a big background for the whole rise of crude oil. Recently, there has been a strong shock in the international oil market, and oil prices have been rising all the way. At present, some oil prices have exceeded 4 US dollars per barrel. The rise in oil prices has cast a shadow over the world economy that has just shown the momentum of recovery. A discussion about "whose fault is the rise in oil prices" is being held in western countries. Some media irresponsibly published articles that the high oil price is mainly due to the rapid economic growth in China, which greatly increases the demand for oil, resulting in the imbalance between supply and demand in the international market. However, authorities in German economic circles believe that there are many factors in the rise of oil prices, and it is impossible to blame the oil prices only on the increase of energy demand in China. First of all, since the second half of last year, the world economy has shown a momentum of recovery, and the demand in the international crude oil market has increased significantly, which has caused new pressure on oil prices. According to the forecast of Vienna International Energy Agency, the world oil demand increased to 1 million barrels per day in 24. The United States accounts for a quarter of the world's total oil consumption, half of which depends on imports. Secondly, the depreciation of the dollar has contributed to the rise in oil prices. From February 22 to February 24, the price of oil rose by 51% in dollar terms, and the price of a barrel rose from 2 dollars in 22 to nearly 4 dollars now. From 22 to 24, the exchange rate between the dollar and the euro dropped from 1.16 euros to .8 euros. In this way, oil suppliers are of course willing to trade in dollars, which further accelerates the depreciation of the dollar, leading to an increase in oil prices. Thirdly, the situation in major oil-producing countries is turbulent and terrorist activities continue, which also seriously affects the stability of the international crude oil market price. Saudi Arabia has the largest oil reserves in the world, and its oil production accounts for a quarter of the world's total output. A recent kidnapping in the Saudi oil city of Hubail killed 22 people. This shows that terrorist organizations have begun to turn their targets to oil production. In a statement issued by the self-proclaimed Al Qaeda, the terrorists claimed that they were responsible for this incident. They stressed that foreign invaders have been plundering the mineral resources of Arab and Muslim countries for a long time, and now they want to give these invaders a heavy blow. Iranian Oil Minister Namdal Zanganeh said that "the high oil price is not caused by supply and demand, but by political factors." Finally, OPEC's policy of limiting production and insuring prices makes oil production in short supply. Last weekend, the finance ministers of developed countries gathered in new york and strongly appealed to all oil-mining countries to increase their oil production accordingly. Only in this way can the world crude oil market price return to the level that was compatible with economic development in the past. Although the Organization of Petroleum Exporting Countries (OPEC) announced an increase in oil production at its meeting in Beirut on the 3rd of this month, the international oil price did not drop significantly as predicted by some people. Observers here believe that the high oil price is entirely caused by speculation and psychological factors of lack of confidence in the oil market.