In principle, it is good because the cost is reduced. But you should not only look at the decline of crude oil, but also look at why it has fallen. This has been reported in many reports, so I won't say more. There are principles for the fund to open positions "in advance". Sometimes the fund has to buy when it is clearly going to fall. Because the fund has a large amount of funds, I don't want to be discovered too early. It is too late to buy it when the general trend picks up, and it needs to be laid out in advance. Then there was a big increase in positions in the second quarter, not when it was going on, but now it may be lightening positions. Stocks that performed much better than 000698 are also falling. This is called the general trend.

1. At the recent OPEC+meeting, Russia and the Organization of Petroleum Exporting Countries failed to reach an agreement on crude oil production reduction, and then Saudi Arabia retaliated to increase production, resulting in a sharp drop in crude oil prices. The price of Brent crude oil dropped by 8.98% on March 6th, and even reached 26. 18% on March 9th, which led to a series of turbulence in the crude oil market, the spread of COVID-19 epidemic, the rise of trade protectionism and the pessimism of the global economy.

2. With the increase of its members, the Organization of Petroleum Exporting Countries has developed into an international petroleum organization of some major oil-producing countries in Asia, Africa and Latin America. The headquarters of OPEC is located in Vienna, Austria. At present, the Organization of Petroleum Exporting Countries aims at ensuring the stability of oil prices in the international oil market by eliminating harmful and unnecessary price fluctuations, ensuring that all member countries can obtain stable oil revenues under any circumstances, and providing sufficient, economical and long-term oil supplies for oil-consuming countries.

3. OPEC members analyze and predict the current situation and market trends, make clear many basic factors such as economic growth rate and oil supply and demand, and then negotiate what adjustments to make to their oil policies. For example, at the previous meeting, the members of the Organization of Petroleum Exporting Countries decided to increase or decrease the overall oil production of the organization, so as to maintain the stability of oil prices and provide stable short-,medium-and even long-term oil supplies for consuming countries.

4. Summary of commonly used institutions and abbreviations in the international oil market: 1, Organization of Petroleum Exporting Countries: Organization of Petroleum Exporting Countries, founded in 1960, has 12 member countries, and its oil reserves account for 77% of the world's total oil reserves, which is the international organization that has the greatest impact on international oil prices. 2.IEA: The full name is the International Energy Agency, which is an international organization that coordinates and guides international energy work. Founded in 1974 and headquartered in Paris, France. 3.EIA: us energy information administration, a statistical agency under the US Department of Energy, aims to provide accurate and independent judgment, prediction and analysis for crude oil investors.