The current trend in oil prices** is mainly influenced by the dynamics of the International Organization of the Petroleum Exporting Countries (OPEC+) meeting and global economic factors. The postponement of the OPEC+ meeting and the failure to reiterate the decision to cut production quotas at the meeting frustrated expectations for further cuts, which reinforced concerns about surpluses. At the same time, the sluggish global manufacturing activity has also heightened expectations for oil prices**, as a slowdown in the manufacturing sector could mean less energy demand.
In addition, Brazil, one of the world's top 10 oil producers, has seen significant growth in its oil production capacity in recent years and ranked 10th in terms of oil exports in 2022. Brazil plans to join OPEC+ next year, a move that could further influence oil prices. Since Brazil is an oil producer with rapidly growing production capacity, its entry into OPEC+ could further increase the overall output of the organization, putting pressure on the ** end and posing downside risks to oil prices.
The 24th round of refined oil price adjustment has entered the 10th working day, and the rate of change continues to be negative, currently -14%。According to the refined oil price adjustment mechanism and the "Petroleum Management Measures", the oil price is expected to be reduced by 45 yuan tons. Since the reduction does not exceed the red line of 50 yuan tons, this round of oil price adjustment will be in a "stranded" state and cannot continue the trend.
For the majority of car owners, it may be a little regrettable that they have not been able to achieve further oil prices. However, the final round of oil price adjustments of the year is approaching, and people still hold out hope that oil prices will be able to reduce travel costs.
On the whole, the current international oil price is still in a state of fluctuation, and there are many uncertainties in the future trend. In this case, the price adjustment of refined oil will also face more challenges. However, as the global economic recovery process accelerates, oil demand is expected to gradually recover, which will form a certain support for oil prices.
Overall, although the current round of oil price adjustment failed to materialize**, the last round of oil price adjustment of the year is still worth looking forward to. The majority of car owners should pay close attention to the trend of oil prices and arrange the refueling time reasonably to reduce travel costs. At the same time, we should also pay attention to the global economic situation and oil market dynamics in order to better cope with the impact of oil price fluctuations.