Since the beginning of this month, as concerns about the worsening situation in the Middle East have eased, the demand-side disturbance has brought down the volatility of oil prices. Ahead of the regular ministerial meeting this weekend, the market came out of the news that OPEC+ is considering further production cuts, and the two major international crude oil futures rebounded more than 7% in two trading days, getting rid of the bear market quagmire.

Tamas Varga, senior market analyst at crude Oil broker PVM Oil Associates, said in an interview with First Financial reporter that the market trend basically reflects the change in US oil inventories, and the Brent crude oil below $80 reflects the shaking of investor confidence, "for the consideration of stabilizing the market, The OPEC+ decision is not a surprise, but Saudi Arabia will also face greater headwinds than before, and in addition to the competition for market share, the producers' alliance will once again be in opposition to the United States."