OPEC+ production reduction policy implemented (June 6)

News on June 6, the dominant logic of the future crude oil market is still on the demand side. Under the background that the supply side is greatly disturbed by the OPEC+ policy, the downward direction of the demand side is relatively certain, and the downward trend of demand will in turn affect the formulation of the OPEC+ production reduction policy, so the focus of subsequent transactions is still on the demand side, and demand is still the transaction main logic. Crude oil is a post-economic product. The demand for diesel oil is expected to remain weak due to the impact of high interest rates, while the demand for gasoline may also decline due to the weakening service consumption demand due to the lag of interest rate hikes in the future. As the demand for crude oil continues to weaken In the future, it may be necessary to see a larger-scale production cut by OPEC+ in order to give oil prices a relatively solid lower margin.