The letter of minerals: crude oil or into rebound

The letter of minerals: crude oil or into rebound

Thursday (October 15) US Energy Information Administration (EIA) released the latest inventory data shows that as of the week of October 9th, US crude oil inventories increased more than expected, at 7.56 million barrels, which is the largest single week since April of this year. Increase. At the same time, this is the gap with nearly 1.8 million barrels of 930 million barrels announced by the American Petroleum Institute. In addition, the inventory of gasoline and refined oil fell at the same time.

The specific data shows that the US crude oil inventories increased by 7.56 million barrels, and analysts expect an increase of 2.8 million barrels. Gasoline stocks fell by 2.618 million barrels, which is forecast to fall by 1.7 million barrels. Refined oil stocks, including diesel and heating oil, fell by 152 million barrels, and are forecast to drop by 60,000 barrels. The average daily import of crude oil in the United States dropped by 24.7 million barrels.

The main reason for delivery, inventory growth in Cushing, Oklahoma, 1.12.5 million barrels.

In addition, the average daily output of refineries fell by 292,000 barrels, and the utilization rate decreased by 1.5% to 86.0%.

The latest performance of the US CPI index was still unsatisfactory, and the initial jobless claims unexpectedly fell again last week, setting a new low of 40 years in July. The two major economic data eventually made a concerted effort to stabilize the decline in the US dollar index. The Fed is still the biggest uncertainty factor on the market. The US retail sales growth in September was less than expected, and the sluggish performance of the U.S. September consumer price index (PPI) still kept the possibility of raising interest rates. The U.S. dollar remained at a low price to provide oil prices. support.

Baker Hughes, an American oil service company, released data last week that the number of active oil drilling in the United States decreased by 9 to 605 as of the 9th of October, reducing for the sixth consecutive week, reaching July 2010. The lowest level since the week of 30. The number of active oil drilling in the United States decreased by 61 in the first five weeks. The total number of active drilling in the United States decreased by 14 to 795, the lowest since May 2002.

Affected by the economic slowdown, China's energy demand also showed signs of weakness. China's economic growth in the third quarter is expected to be less than 7%, the lowest since the financial crisis from 2007 to 2009. At the same time, OPEC also reduced the average daily growth of crude oil demand in 2016 by 40,000 barrels to 1.25 million barrels.

The International Energy Agency (IEA) said on Tuesday that it is estimated that global oil demand will increase by 1.21 million barrels per day in 2016, which is a drop of 150,000 barrels per day from the previous month's estimate. Although low oil prices have curbed supply from non-OPEC oil-producing countries, due to slowing demand and the main OPEC oil-producing countries are still maintaining near-record high output, the global oil market supply surplus will continue into 2016.

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