At the beginning of the oil market on Friday, U.S. oil fell more than 1%. U.S. oil is trading around US$/barrel, with a decline of approximately 50%. Brent oil is trading around US$/barrel, with an increase of approximately 1%. Although the optimism of major oil-producing countries about reaching a production reduction agreement has boosted market confidence, high crude oil production and high U.S. crude oil inventories have put pressure on oil prices. In addition, the latest economic data released by the United States are strong, the market's expectations for Trump's new policies, and the hawkish speech by Federal Reserve Chairman Yellen have all boosted expectations of the Federal Reserve raising interest rates, thus making the U.S. dollar continue to strengthen, thus suppressing the dollar's Denominated oil price.
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Baishan Weiye official website information-The U.S. dollar continues to strengthen and crude oil production remains high