Market Focus on OPEC+ Production Policy International oil prices rose on September 2

According to media reports, OPEC and non-OPEC oil producers are likely to maintain the October crude oil supply quota unchanged at the monthly meeting on the 5th, and some sources said that they do not rule out the possibility of oil producers cutting production to boost oil prices, and international oil prices rose
on the 2nd.

Light crude futures for October delivery rose $0.
26, or 0.
30%,
to settle at $86.
87 a barrel on the New York Mercantile Exchange by the close of the day.
London Brent crude futures for November delivery rose $0.
66, or 0.
71%, to settle at $93.
02 a barrel
.

As global supply and demand picked up after the pandemic eased, OPEC+ had gradually raised its monthly crude oil supply quotas for several months, and brought forward the quotas originally scheduled for September to July and August
.

Tariq Zahir, head of Tyche Capital Advisors, said the arrival of the Atlantic hurricane season and the possibility of OPEC+ production cuts in the coming days and weeks are likely to push up oil prices
.

Iranian Foreign Ministry spokesman Kanani said in the early morning of the 2nd that regarding the relevant opinions of the United States on the resumption of negotiations on the implementation of the comprehensive agreement on the Iranian nuclear issue, Iran has completed its assessment and replied to the US side in order to promote the completion of
the negotiations.

Data released by oilfield service company Baker Hughes on the 2nd showed that the number of active oil rigs in the United States in the week was 596, down 9 from the previous month and up 202 year-on-year
.
Over the same period, the number of active oil rigs in Canada was 143, up 7 month-over-month and 51 year-over-year
.