Participants are cautious about price rise with persistent geopolitical conflict

Participants are cautious about price rise with persistent geopolitical conflict

Some participants start to accept high crude oil price. Though some believe there could be oil price slump after the spikes, it is difficult to forecast when oil price would pull back, and with the complicated international situation, crude oil price may further move up, which is to say, crude oil market is unlikely to fall in the short term. Therefore, as the value in product inventory may further increase, producers keep stable production pace. However, if there’s any adverse signal from the market, producers would respond accordingly