OPEC's production reduction in the hottest oil cit

Oil market: OPEC's production reduction is difficult to offset the six bad resonances

content summary

1, international crude oil, Singapore fuel oil market, Huangpu spot closing market

2. Latest reports on international crude oil and Singapore fuel oil market

3. Fund position report published by CFTC

4. Weekly report on fuel oil inventory of Shanghai Stock Exchange

5. EIA weekly U.S. oil inventory data

6. Weekly evaluation of crude oil and fuel oil:

7. Weekly trend of crude oil and analysis of fund positions, analysis of future market, etc

1、 Crude oil market one week

varieties

10.20

10.21

10.22

10.23

10.24

changes from last week

wti crude oil

74.25

70.89

66.75

67.84

64.15

-7.70

Brent crude oil

72.03

69.72

64.52

65.92

62.05

-7.55

one week market price of Singapore fuel oil

varieties

10.20

10.21

10.22

10.23

10.24

change from last week

Singapore high sulfur 180

364.75

374.50

355.00

339.50

316.00

-41.25 if experiments are carried out on items with large elasticity and long length

Singapore high sulfur 380

355.00

365.50

345.25

331.75

315.00

-32.75

2 The latest crude oil market closing report

[New York Mercantile Exchange]

NYMEX crude oil futures price trend chart. (source: Everbright futures)

NYMEX crude oil futures plummeted by more than 5%, as economic concerns overshadowed the impact of OPEC production cuts

U.S. crude oil futures closed at a 17 month low on Friday, as concerns about the global economic recession overshadowed the impact of the organization of Petroleum Exporting Countries (OPEC) decision to reduce production by 1.5 million barrels a day

oil prices will fall sharply in the short term. Due to the slowdown in economic growth and OPEC's failure to hit the nail on the head, the reduction in production should be at least equal to the 250 barrels per day drop in demand, said Nauman Barakat, senior vice president of Macquarie futures

the White House criticized the decision of the organization of Petroleum Exporting Countries (OPEC) to reduce production by 1.5 million barrels on Friday, calling it an "anti market" decision

despite OPEC's actions, the psychological factor of poor prediction pervades all markets, and the oil market is obviously mainly affected by this psychological factor, Mike Fitzpatrick, vice president of MF global said

nymex gasoline futures fell to its 21 month low, and heating oil futures hit a 16 month low

nymex December crude oil futures clz8 closed down $3.69, or 5.44 percent, at $64.15, the lowest settlement price since May 31, 2007 The intraday trading range is 62 Fifty dollars

the intraday low is also the lowest since May 31, 2007, when it hit $62.43 The contract fell $83.12, or 56.44 percent, from a record high of $147.27 on July 11

London Brent crude oil futures for December lcoz8 fell $3.87, or 5.87%, and the settlement price was $62.05, the lowest settlement price since March, 2007 until customers were skilled in operation, and closed at $60.77 on the 21st

intraday trading range is The former was the lowest since it hit $60.35 on March 21, 2007

November rbob gasoline futures rbx8 closed down 9.99 cents, or 6.33 percent, at $1.4779, with a daily low of $1.45, the lowest since it hit $1.4368 on January 30, 2007, and as high as $1.6050 on Friday

november heating oil futures hox8 fell 8.32 cents, or 4.1%, and the settlement price was $1.9465 per gallon, with an intraday trading range of 1 The former was the lowest since it hit $1.9042 on June 13, 2007

ministers and representatives of various countries said on Friday that the organization of Petroleum Exporting Countries (OPEC) decided at its emergency meeting on Friday to cut 1.5 million barrels per day of oil production from September production as the first step to end the sharp decline in oil prices Saudi Arabia will cut production by 466000 barrels per day and Iran by 199000 barrels per day

the International Energy Agency (EIA) pointed out that OPEC's decision to reduce production was "unhelpful" and the reduction was too large

3 As of 08/10/21, NYMEX crude oil futures classified position report reportable position

fund position

commercial position

reportable total position

non reportable position

report classification

long position

short position

arbitrage

long position

short position

long position

short position

long

short

number of positions

174773

174290

243950

573958

563736

992681

981976

73016

53721

change from last week

10655

8273

-42796

-13500

-6163

-45641

-40686

-8913

-13868

proportion (%)

16.9

16.8

23.6

55.4

54.4

95.8

94.8

4.2

5.2

number of dealers

69

101

110

69

94

208

242

4 Weekly inventory report of designated delivery warehouse of Shanghai Futures Exchange (10.24)

delivery commodity: fuel oil

unit: ton

region

warehouse

last week's inventory

this week's inventory

inventory increase and decrease

available warehouse capacity

subtotal

futures

subtotal

futures

subtotal

futures

last week

this week

increase and decrease

PetroChina Zhanjiang

4626

600

4626

600

0

0

294900

294900

0

Bi PI Nan Sand

18668

900

18668

900

0

40470

40470

0

Guangdong

zhongran Zhuhai

9850

0

9850

0

9850

9850

0

Xiji oil depot

0

0

0

0

0

29550

29550

0

Taishan Petrochemical

9200

6500

9200

6500

0

0

427 50

42750

0

total

42344

8000

42344

8000

0

417520

417520

0

5. Crude oil inventories in the United States increased by 3.2 million barrels to 311.4 million barrels in the week of October 17 - EIA

according to New York 10.On June 22, data released by the American Energy Information Association (EIA) on Wednesday showed that US crude oil inventories increased for the fourth time last week due to import growth. At the same time, the supply of refined oil also increased

daily crude oil imports increased by 239000 barrels to 10.4 million barrels in the week

the data also showed that the gasoline inventory in the United States increased by 2.7 million barrels to 196.5 million barrels in the week of October 17, which was very close to the 2.8 million barrels increase estimated by analysts, and it was the fourth consecutive week of increase; Distillate oil inventories increased by 2.2 million barrels to 124.3 million barrels in the week, an increase much higher than the 100000 barrels expected by analysts

eia also announced that the utilization rate of refinery equipment in the United States rose by 2.6 percentage points to 84.8% in the week, and the market is expected to increase by 0.9%

in recent weeks, the utilization rate of refinery equipment has rebounded. Before the landfall of hurricanes Gustav and Ike, the utilization rate of equipment fell to a record low

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