The hottest OPEC threatened to reduce production.

OPEC threatened to cut production on the 15th, and the international oil price remained stable.

on Monday, the New York Mercantile Exchange closed on a US public holiday. The electronic trading of light crude oil futures in February closed at $52.94 a barrel, down 5 cents from the close of last Friday; The settlement price of February Brent crude oil futures on the London Intercontinental Exchange was $53.12 a barrel, up $0.17 from last Friday's close; Diesel futures in January closed at $473.75 per ton, up $3 from the previous trading day

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last October, OPEC made an agreement requiring the 10 member states with quotas to reduce the daily crude oil production to 26.3 million barrels, and in December, it decided to reduce the daily crude oil production by 500000 barrels again from February. However, only half of OPEC's target of reducing crude oil production by 1.2 million barrels per day for the first time was fulfilled, and the international oil price fell sharply to around $50 per barrel. OPEC president asked the member states of the organization to seriously implement the production reduction agreement. Iran and Venezuela, the hardliners of the organization, called for support for further production cuts to support oil prices. 3. Due to the low risk of establishing a recycled plastic pellet plant, Venezuelan President Hugo Chavez, who visited Iran, said that we know that there is abundant crude oil supply in the market today, and we unanimously request to reduce production and ensure prices together with OPEC

on Sunday, the head of OPEC affairs of Iran's oil ministry said that there was no official decision on whether to hold an emergency meeting to discuss the decline in oil prices in the next few days. Consultations are now under way among Member States. He said that some OPEC member states called for the immediate implementation of the 500000 barrels per day production reduction originally planned for February 1

the head of Libya's state-owned oil company said it was too early to reach an agreement on convening an emergency OPEC meeting. Kuwait's oil minister al Sabah believes that before the decision to reduce production by 500000 barrels a day on February 1 is implemented, OPEC member states will try to avoid holding meetings to observe the impact of the reduction on the oil market. He said that OPEC held a meeting in Abuja, Nigeria last month and decided to reduce production by 500000 barrels, which will be implemented from February 1. Member States will remain on the sidelines until February 1. If oil prices cannot be maintained after the implementation of the production reduction resolution, OPEC member states may hold another meeting

however, Kuwait's state-owned oil company has informed Korean and Japanese customers that the crude oil supply in February was supplied in full according to the contract. An official of Iran's state-owned oil company in Singapore said Iran is unlikely to cut its February contract supply to Asia. 'our customers in Asia are very sensitive and we cannot change their plans,' he said. However, the headquarters of the company has not made any decision. 60% of Iranian crude oil is exported to Asia

the measures of Kuwait and Iran have also raised doubts about whether OPEC has complied with the production reduction agreement

the position held by speculators in crude oil futures on the New York Mercantile Exchange changed from net excess to net short. According to the latest report released by the US Commodity Futures administration, large speculative funds held 22358 net short positions in crude oil futures on January 9, the largest number of net short positions since February last year. In the previous statistical report, large speculators in crude oil futures on the New York Mercantile Exchange held 2194 net long hands. Analysts at Barclays Capital Bank believe that the U.S. commodity futures position report reveals that speculators have taken a more bearish stance in the entire energy futures market

the warm climate in the United States has restrained the demand for heating fuel. According to the meteorological department, due to the El Nino phenomenon, this winter may be the warmest winter climate in American history. The demand for heating fuel has also decreased significantly. The US Department of energy report showed that the US fuel demand fell to the lowest level in nearly two years at the beginning of this month

Whitner, an analyst at investment bank Calyon Orient, believes that although it is now mid January, the market has left winter and the market atmosphere is quite depressed. Andy sommer, an analyst at HSH Nordbank bank in Hamburg, said that if the warm climate in the United States continues, refineries will reduce the production of heating oil, so the demand for crude oil will also decline. In this way, the fixture must be installed in the concave convex temperature box, which responds to OPEC's statement: we also need to reduce the daily output by 500000 barrels to balance supply and demand

February Brent crude oil futures on the London Intercontinental Exchange will end at the end of the closing period on Tuesday

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