CICC released a research report stating that the Brent oil price fluctuation center has continued to rise since the third quarter, and the quarterly center of 90 US dollars/barrel predicted in the June mid-year outlook is being fulfilled. Recently, the geographical situation in the Middle East has once again escalated. Damage to Gulf oil exports has returned to more than 10 million barrels per day, Brent oil prices have exceeded 100 US dollars/barrel, and spot oil prices in the North Sea and Middle East are close to 120 US dollars/barrel. Global onshore oil reserves returned to the elimination channel in August/September, similar to the situation in April of this year. Considering that current oil inventory levels are lower than in the previous period, CICC suggests that short-term crude oil premiums are more flexible.

CICC released a research report stating that the Brent oil price fluctuation center has continued to rise since the third quarter, and the quarterly center of 90 US dollars/barrel predicted in the June mid-year outlook is being fulfilled. Recently, the geographical situation in the Middle East has once again escalated. Damage to Gulf oil exports has returned to more than 10 million barrels per day, Brent oil prices have exceeded 100 US dollars/barrel, and spot oil prices in the North Sea and Middle East are close to 120 US dollars/barrel. Global onshore oil reserves returned to the elimination channel in August/September, similar to the situation in April of this year. Considering that current oil inventory levels are lower than in the previous period, CICC suggests that short-term crude oil premiums are more flexible.