The U.S. Energy Information Administration (EIA) just released the latest crude oil data this Thursday. As of the week ending September 4, U.S. domestic crude oil production increased by about 85,000 barrels per day, surging directly to 13.95 million barrels per day. This figure broke the previous high of 13.86 million barrels per day set in the week ending August 28, once again setting a new all-time record.
This sustained strength on the supply side deserves close attention. Previously, the market had been weighing the tug-of-war between slowing global demand and oil-producing countries’ supply, and U.S. crude oil output steadily moving toward the 14 million barrel mark has undoubtedly provided the most direct real-world signal to the commodity market from the supply side, while also reflecting that upstream extraction efficiency and capacity release remain quite strong.
From a macro asset perspective, crude oil supply remaining at high levels has directly suppressed the inflationary upside risk of energy prices. If oil prices remain relatively stable, that is an important variable for the Federal Reserve as it monitors inflation trends and weighs the future path of interest rates. At the same time, U.S. Treasury yields and the dollar index will also undergo periodic rebalancing as energy inflation expectations change.
For the crypto market, stable macro inflation expectations usually mean that the pressure of liquidity tightening will not suddenly intensify. However, funds are still mostly waiting on the sidelines for further confirmation of the macro trend, and $BTC overall sentiment remains neutral. Going forward, the key will be whether this loosening on the supply side can truly translate into longer-term improvements in liquidity.
#原油 #EIA #Macroeconomics
This sustained strength on the supply side deserves close attention. Previously, the market had been weighing the tug-of-war between slowing global demand and oil-producing countries’ supply, and U.S. crude oil output steadily moving toward the 14 million barrel mark has undoubtedly provided the most direct real-world signal to the commodity market from the supply side, while also reflecting that upstream extraction efficiency and capacity release remain quite strong.
From a macro asset perspective, crude oil supply remaining at high levels has directly suppressed the inflationary upside risk of energy prices. If oil prices remain relatively stable, that is an important variable for the Federal Reserve as it monitors inflation trends and weighs the future path of interest rates. At the same time, U.S. Treasury yields and the dollar index will also undergo periodic rebalancing as energy inflation expectations change.
For the crypto market, stable macro inflation expectations usually mean that the pressure of liquidity tightening will not suddenly intensify. However, funds are still mostly waiting on the sidelines for further confirmation of the macro trend, and $BTC overall sentiment remains neutral. Going forward, the key will be whether this loosening on the supply side can truly translate into longer-term improvements in liquidity.
#原油 #EIA #Macroeconomics