The best EIA inventory boosted the stabilization a

The positive EIA inventory has boosted the stabilization and recovery of crude oil after continuous sharp falls

the role of inventory

as we all know, inventory, as a key link in the process of trade and commodity circulation, has always been the focus of attention. There is a close relationship between inventory and the price of the commodity. Of course, oil, which has both commodity and financial attributes, is no exception. Although there are many factors that affect the change of oil price, there is no doubt that inventory change is a very important factor. The change of its inventory quantity is directly related to the change of the balance of supply and demand in the world oil market. It can play a role in regulating the balance of supply and demand in the market. That is, selling inventory can increase oil supply, and replenishing inventory will increase demand. Inventory changes (increase or decrease and flow direction) are mainly restricted and adjusted by the balance between supply and demand, price increase and discount, inventory target volume, and operating conditions. 1. We must pay attention to its protection and maintenance. It is a concept of stock, which is closely related to the trend of oil prices. Inventory plays a role in stabilizing oil prices

concept and classification

oil inventory includes crude oil inventory and oil inventory. It is not only a supply system, but also a buffer that plays a key role in making up for insufficient supply. As for crude oil, inventory can be divided into many types according to its subject, type, location, purpose and reasons for establishment. According to its purpose, the crude oil inventory consists of part of the primary inventory and the secondary and tertiary inventory used to refine the refined oil. The calibration method of the concrete pressure testing machine is as follows:. In statistics, crude oil inventory is often divided into commercial inventory (i.e. industrial inventory) and strategic reserve inventory according to the subject and purpose. In addition, from the perspective of economics and engineering technology, inventory can be divided into non arbitrary inventory and arbitrary inventory according to the purpose of its establishment

non discretionary inventory is to maintain the normal operation of the world oil supply system. He said that inventory is mainly composed of minimum operating inventory, offshore inventory, strategic reserve inventory and safety obligation inventory. In order to support a growing oil supply system and its security, non discretionary inventories usually rise with the increase of global crude oil demand. Ordinary commercial trade factors have little impact on non discretionary inventory, so theoretically, it is not very close to the price of crude oil

any inventory is available commercial inventory, which is higher than the inventory of safety obligations, and it is also the basis for ensuring the smooth progress of trade. The driving force behind it is commercial profit, which is closely related to the trend of crude oil prices. Although the policy of oil companies in recent years is to use as low as possible arbitrary inventory, in fact, arbitrary inventory is rarely lower than its 10 day consumption

significance of EIA oil data report

the major oil futures markets worldwide are the New York Mercantile Exchange (NYMEX), the London international oil exchange (IPE) and the Tokyo industrial products exchange (TOCOM), which has sprung up in the past two years. In 2003, the trading volume of energy futures and options on the New York Mercantile Exchange exceeded 100million hands, accounting for more than 60% of the total volume of the three major energy exchanges. The West Texas Intermediate crude oil (WTI) listed and traded on the New York Mercantile Exchange is the largest trading volume of commodity futures in the world, and it is also one of the most important pricing benchmarks in the global oil market. In addition, the United States consumes about 900 million tons of oil annually, accounting for about a quarter of the global total, of which about 600 million tons need to be imported, making it the largest oil consumption market in the world. In view of this, this report will focus on the U.S. oil inventory and the trend of WTI crude oil futures price. If we can grasp the change trend of inventory, it can be said that to a large extent, JGJ 133 ⑵ 001, the technical specification for metal and stone curtain wall engineering, has mastered the trend of oil prices

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