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UKOIL
Brent crude oil
Past performance is not an indication of future results.
About
Crude oil, a scarce non-renewable resource, is one of the most important commodities on Earth and an essential international strategic reserve material
Factors affecting UKOIL
1. Crude oil production. OPEC+ production increases will lower oil prices, while production cuts will boost oil prices. 2. Global economic conditions and industrial demand. Oil prices will rise with economic growth and high demand. 3. Geopolitical factors. Crude oil has the attributes of strategic material. Geopolitical conflicts, especially political factors in oil-producing countries, have a great influence on oil prices. 4. Emergencies and climate impacts. Some countries use crude oil as a heating fuel. Therefore, the price of crude oil and its related products may fluctuate in the short run during the cold season.
Economic data affecting the crude oil price (ordered in terms of importance)
1. EIA inventory changes 2. OPEC production reduction/increase agreement 3. API inventory changes
