The hottest US inventory fell, and the internation

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U.S. inventory fell, and the international oil price broke $61 again

international oil prices rose 2% on Thursday. OPEC's statement of further production reduction in December and the decline in total U.S. oil inventories pushed European and American crude oil futures to exceed $60 a barrel, and then quickly exceed $61 a barrel. At the close of Thursday, December light crude oil futures on the New York Mercantile Exchange were $61.16 a barrel, up $1.33 from the previous trading day; December Brent crude oil futures on the London Intercontinental Exchange were $61.32, up $1.73 and reducing weight by 65%; Heating oil futures in December in New York rose 3.50 cents to 174.56 cents per gallon; Gasoline futures in December closed at 160.10 cents per gallon, up 3.74 cents; In December, Bob gasoline futures closed at 160.52 cents per gallon, up 2.75 cents from the previous trading day; November diesel futures on the London Intercontinental Exchange closed at $542.75 per ton, up $5.50 from the previous trading day

OPEC has reduced crude oil production, and some member countries are already planning to further reduce production in December. At this time, the peak of oil demand in the northern hemisphere is approaching in winter. Wittner, an analyst at Calyon, an investment bank, believes that the demand for refined oil is rising, the demand for crude oil is rising, and OPEC is reducing production. Global demand will drive up the oil price, and the oil price will return to the middle of $per barrel in December

On Wednesday, OPEC member states in the Persian Gulf claimed that they fully fulfilled the OPEC decision to reduce production by 1.2 million barrels per day in November, but the market was still oversupplied. Saudi Arabia and other OPEC member states in the Persian Gulf threatened that OPEC had room to further reduce production at the Nigeria meeting on December 14. Olivier Jakob, an analyst with consulting firm petromatrix, believes that, to be clear, what OPEC has done is to take the oil price of $60 a barrel as a defensive price

an official of Saudi Arabia's Ministry of oil said before attending the Gulf Cooperation Organization oil and gas conference in Abu Dhabi that Saudi Arabia had fully implemented the 380000 barrels per day oil production reduction agreement. Venezuelan oil minister Ramirez said that the country has reduced crude oil production by 138000 barrels per day. Kuwait's oil minister al Sabah said that OPEC could fully implement the decision to reduce production by the end of November, and Kuwait would reduce its daily output by 100000 barrels by the end of November

Qatar's oil minister al attiya said before the Gulf Cooperation Council oil ministers' meeting that he was worried about the lack of demand for oil with a four fold increase in precision in the coming winter. As for whether OPEC really fulfilled the production reduction agreement, he said that it was difficult to predict the difference between the number of production reductions reached at the OPEC Doha meeting in October and the plan

Venezuelan President Chavez said that his government is committed to maintaining oil prices above $50 a barrel. He said at the reception, "today, we decided not to let the oil price fall below the bottom line of $50 a barrel." But he did not specify which kind of crude oil to refer to. Last week, Venezuela's crude oil and refined oil were sold. At this time, it was necessary to choose the COM port to connect directly. The sub oil price averaged $49.38 per barrel, down 10 cents from the previous week. Since this year, the average package of oil prices in Venezuela has been US $57.33 per barrel, compared with us $45.39 per barrel last year

however, according to the US Energy Information Administration's November "short term energy outlook", OPEC's daily production in November can only be reduced by 745000 barrels, far below the 1.2 million barrel production reduction agreement. Among them, Saudi Arabia is expected to reduce its daily output by 350000 barrels in November, 30000 barrels lower than the share of production reduction; Iran is expected to reduce its daily output by 50000 barrels, 126000 barrels lower than the share of production reduction; It is estimated that Venezuela will not reduce production

the U.S. Energy Information Administration said in its report on Wednesday that OPEC's existing production reduction plan will lead to a faster than normal decline in U.S. crude oil inventories. U.S. distillate stocks, including heating oil and diesel, fell by 2.7 million barrels. However, the inventory level is still 11% higher than the same period last year

another decline in U.S. natural gas inventories has also driven the upward trend in the energy market. As of the week ended November 3, U.S. natural gas inventories stood at 3452 billion cubic feet, down 9 billion cubic feet from the previous week

meanwhile, the stocks of some large oil companies, including BP, ExxonMobil, ConocoPhillips and Chevron, have risen since mid September

the US mid-term election may have a certain impact on the oil market. Because if the Democratic Party controls Congress, it may ease its policy towards the Middle East. Akira Kamiyama, an oil trader with Mitsui, said that the Bush administration may no longer be able to maintain a tough policy in the Middle East because its Iraq policy is a key issue in the election. This may reduce some geopolitical risk premiums in oil prices

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