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原油供需基本面叠加全球宏观经济因素的共同作用,导致原油价格短期内低价运行。2015年6月,原油价格二次探底,Brent从6月11日的高点65美元/桶持续下滑,绝对价格一度跌破45美元/桶(见附图)。原油价格二次探底,原因主要来自于三方面:一是受供应增加的打压,二是需求端步入淡季,三是全球金融市场集体暴跌所带来的恐慌性抛盘。展望后市,油价仍然会受制于这三方面因素的影响,并将进入低位运行的新常态。
Crude oil supply and demand fundamentals superimposed on the combined effect of global macroeconomic factors, leading to short-term operation of crude oil prices at low prices. In June 2015, the price of crude oil doubled to the bottom. Brent continued to decline from a high of June 65 at a high of 65 US dollars / barrel. The absolute price once fell below 45 US dollars / barrel (see the photo). The second dip of crude oil prices mainly due to three aspects: First, the supply pressure to suppress the second step into the off-season demand, the third is the global financial markets collective slump brought panic selling. Looking ahead, oil prices will still be subject to the impact of these three factors, and will enter the new normal running low.