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Good economic data on Tuesday, the international oil price rose

good economic data on Tuesday, the international oil price rose

February 3, 2010

[China paint information] due to the good economic data, the international can instantly measure and record the characteristic curve of materials in the process of impact, and the oil price rose on Tuesday. At the close of Tuesday, March light crude oil futures on the New York Mercantile Exchange were $77.23 a barrel, up $2.80 from the previous trading day; London Intercontinental Exchange Brent crude oil futures in March was $76.07, up $2.96; March futures of heating oil in New York rose 7.68 cents to 203.17 cents per gallon; Rbob gasoline futures in March were 201.76 cents per gallon, up 8.58 cents; London Intercontinental Exchange February diesel futures $602.25 per ton, up $15.75 from the previous trading day

the National Association of Realtors (NAR) announced on Tuesday that the monthly rate of NAR existing home contract sales index in the United States in December rose by 1.0% to 96.6. Therefore, it was in line with expectations, rising by 10.9% at an annual rate. This data shows that the U.S. real estate market continues to recover, increasing confidence in economic recovery. In addition, the depreciation of the US dollar and the rise of US stocks also drove up oil prices

affected by better than expected corporate performance, the S & P 500 index rose 1.3% to 1103.22 points on Tuesday; The Dow Jones index rose 1.09% to 10296.85. European stock markets also generally rose. The US dollar fell 0.3% against the euro. Since the economic crisis, oil prices have often fluctuated with the US dollar and the stock market

OPEC Secretary General Badri said on Tuesday that if market conditions continue, OPEC is unlikely to change its output policy at its meeting in March. Badri said that the current oil price fluctuations are affected by the dollar and the stock market, rather than supply and demand fundamentals. This kind of phenomenon is called giving in to the price of $70 to $90 per barrel, which is acceptable. Lower than $70 will not be conducive to Member States' investment in new oil projects. In the next year, OPEC will add 140 projects to increase the production capacity by 1. 2million barrels per day in all thermoplastic materials that can withstand the temperature range of 275 ℃

Badri also said that it is expected that crude oil demand will not rise until the second half of this year, and it will be "difficult" to do so in the first half of this year. Oil inventories will increase in the first half of the year, but OPEC will urge Member States to increase the implementation rate of production reduction to more than 80%. At present, the industrial oil inventory of developed countries is "very high", reaching 70-80 million barrels, which can meet the demand of 59 days. It is generally believed that it is appropriate to meet the demand of 52 days