Illinois crude oil prices

Illinois crude oil prices

One of the shortcomings of moving averages Illinois crude oil pricesis that they lag the market, so they are not necessarily a sign of trend changes. To solve this problem, the use of a short-period moving average of 5 or 0 days will reflect recent price trends better than a 40 or 200-day moving average. Alternatively, the moving average can also be used by combining two averages with different time spans. Regardless of whether the 5- and 20-day moving averages or the 40- and 200-day moving averages are used, the buy signal is usually detected when the shorter-term average crosses the longer-term average upward. In contrast, a sell signal will be prompted when the shorter-term average crosses the longer-period average downward.

Energy’s international report reports that Rosneft has significantly increased the drilling of new wells. The report pointed out that in 207, Russian companies significantly increased the number of new wells, an increase of 20% to 6,000; while last year, it increased by 2%.

It is worth noting that some countries participating in production cuts have idle capacity, while others have not. In other words, if oil prices fall, only Russia and the Arab countries in the Gulf region will be the beneficiaries. Analysts predict that the OPEC meeting in June will be full of gunpowder. It may be difficult for Russia and Saudi Arabia to persuade all countries to focus on long-term market stability.

UBS warned that oil prices have broken through the best areas that are conducive to global economic growth. If they continue to rise, it will herald the United States into recession. The bank believes that the best oil price region conducive to global economic growth seems to be 50-70 US dollars per barrel. If oil prices are at US$00 per barrel, the forecast for global economic growth in 209 will fall from 4% to 86%. The imported inflation that high oil prices may bring, and the capital outflow that a strong US dollar may bring, if the two simultaneously strike and cause resonance, can emerging markets be able to withstand it? Now I can only watch while walking.

In addition, OPEC has predicted that if the organization's oil production remains unchanged, there will be a huge supply gap in the global oil market in the second half of 208. If Iran and Venezuela supply decline, the supply gap will further expand. Although Saudi Arabia and Russia can make up the gap, doing so will undoubtedly increase tension in the Middle East.

Earlier this week, Reuters quoted a numbIllinois crude oil priceser of people familiar with OPEC countries and the oil industry as saying that OPEC may decide to increase oil output as early as June, mainly due to concerns that the economic crisis will further reduce Venezuelan oil production and a potential impact on Iran’s oil supply. .