Crude oil: supported by many factors, crude oil shock closed higher

Crude oil: The international crude oil market has recently fallen into a state of
intensifying long-short divergence.
On the one hand, the continued low international crude oil futures price has triggered OPEC+ oil producers to implement large-scale production reduction measures, on the other hand, in the face of high inflation in Europe and the United States, although the Federal Reserve and the European Central Bank have raised interest rates sharply, they have little effect and policy needs time to transmit
.
Extraordinary interest rate hikes have tightened liquidity, the economy is also facing downside risks, and the outlook for crude oil demand has been weakened, leading to a compression of the consumer side and leading to downward risks to oil prices
.
The mutual game between long and short forces in the international crude oil market has led to a wide
range of oil prices turning into the box.

Since the beginning of this week, domestic and foreign crude oil futures prices have shown a state of volatility and closed up, of which the US WTI crude oil futures price has remained in the range of 82.
70-90 US dollars / barrel; Brent crude oil futures prices remained in the range of $89-95.
30 per barrel, and the two maintained a narrow range
.
The main domestic crude oil futures 2212 contract rose significantly, and the futures price closed up 3.
27% to 685.
7 yuan / barrel
.
We believe that the international crude oil market in the aftermarket is still unable to get rid of this box range shock mode
.

On the supply side, OPEC+ oil producers have vigorously intervened in oil prices and adopted the initiative to shrink production capacity to alleviate the expectation of oversupply and demand in the
future oil market.
The downside risks of crude oil consuming countries such as Europe and the United States exist, and crude oil demand is facing contraction, which will lead to a downward shift
in the center of gravity of oil prices.
In the context of the intensification of the game between supply and demand, it is expected that crude oil at home and abroad will lack the basis of unilateral market conditions in the future market, and it is expected to maintain a wide oscillation trend
within the range.