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Analysis of the latest crude oil market trend:
Analysis of crude oil news: In the Asian market on June 13 (Tuesday), U.S. crude oil traded around US$67.40/barrel; Goldman Sachs lowered its December oil forecast from US$95 per barrel to 86 US dollars, and lowered the US crude oil forecast from 89 US dollars to 81 US dollars per barrel, lowering the oil price forecast for the third time in half a year. This exacerbated market concerns about the outlook for oil demand, leading to extended declines in oil prices. In addition to Goldman Sachs, the former crude oil bull, lowering its oil price forecast again, indicators in the spot market are also shaking the confidence of bulls, who expect the oil market to turn from surplus to shortage in the coming months. The time spread, which traders use to assess supply and demand dynamics, continues to deteriorate, fueling massive risk aversion and prompting bears to keep putting pressure on oil prices. According to the U.S. Energy Information Administration (EIA), oil production in major U.S. shale-producing regions is expected to rise to 9.38 million bpd in July, the highest level on record. While output would rise about 0.1% from the previous month, it would be the smallest monthly increase since December. Overall, the oil production in major shale oil producing areas in the United States is expected to hit a record high in July, and global supply will increase. Goldman Sachs lowered its oil price forecast three times within half a year, exacerbating market concerns. Before the announcement of the Fed’s decision, oil prices remained volatile and bearish. In the short term, it is expected to reach the $65/barrel mark. Pay attention to the OPEC monthly report within the day.Yun Shang Hui Xin Limited