Recent oil prices have been extremely volatile. On the supply side, OPEC+ has continued to increase production since June, with output hikes sustained over the past few months. This has led to a surplus in crude oil supply, exerting downward pressure on prices. Additionally, U.S. shale oil production capacity may gradually be released as prices rebound. However, production costs in U.S. shale oil regions, such as Midland, act as a floor for prices: new wells require oil prices to stay above $60 per barrel to be profitable, providing some support for prices.
On the demand side, global economic growth has been sluggish. In particular, U.S. tariff hikes have impacted global commodity flows and suppressed oil demand growth in developing countries. However, a easing of U.S.-China trade tensions could potentially bolster oil demand. Moreover, heightened tensions in the Middle East, if conflicts escalate and disrupt oil production and transportation, could cause oil prices to surge in the
USOIL Today's Trading Strategy:
USOIL BUY60~60.5
SL:60
TP:61.5~62
On the demand side, global economic growth has been sluggish. In particular, U.S. tariff hikes have impacted global commodity flows and suppressed oil demand growth in developing countries. However, a easing of U.S.-China trade tensions could potentially bolster oil demand. Moreover, heightened tensions in the Middle East, if conflicts escalate and disrupt oil production and transportation, could cause oil prices to surge in the
USOIL Today's Trading Strategy:
USOIL BUY60~60.5
SL:60
TP:61.5~62
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