During today's session we can observe mixed sentiment in the oil market. On the one hand, we had speculation about a potential agreement between Saudi Arabia and the UAE, which theoretically could be positive for oil. On the other hand, the DOE report, while showing a sizable drop in inventories, ultimately led to a sell-off. Additionally, the recent appreciation of the dollar weighs heavily on oil.
The OPEC report for June was published today. Of course, OPEC picked up production as intended. The largest contributor responsible for the increase in production is, of course, Saudi Arabia.The world demand forecast itself has not been significantly changed. OPEC sees an increase in demand in 2022 by 3.28 million bpd, while this year by 5.95 million bpd. Contrary to the IEA report, the OPEC report does not call for a faster recovery of production, although at the same time it points to a growing demand for oil.
เริ่มเทรดทันทีวันนี้ หรือ ลองใช้บัญชีทดลองแบบไร้ความเสี่ยง
เปิดบัญชี ลองบัญชีเดโม่ ดาวน์โหลดแอปมือถือ ดาวน์โหลดแอปมือถือ
OPEC is restoring production as planned. Source: OPEC
Crude oil continues to decline and is testing the lower limit of the overbalance structure. Source: xStation5
