The relationship between supply and demand of international oil prices, when supply exceeds demand, oil prices fall. From the supply point of view, several major crude oil producers in the world, such as Russia. In the United States, if OPEC, the oil exporting organization, cuts production and has low stocks, it will benefit oil prices, and vice versa. From the demand side, if the economic growth of the world's major oil consumers such as the United States, China and the European Union slows down, the expected demand for crude oil will decrease, which will be negative for oil prices. The factor affecting that spot price of crude oil are as follow:

1, the influence of supply and demand

2. The influence of crude oil price trend.

3. The influence of the production policies of oil-producing countries, especially the member countries of the Organization of Petroleum Exporting Countries.

4. The influence of international and domestic economy.

5. Geopolitical influence.

6. Speculative factors.

7. Impact of relevant markets. Wait a minute.