International oil prices on Monday (December 13) the European market early to rise, due to the OPEC (OPEC) decided to maintain current oil output target unchanged, although the cold weather makes the northern hemisphere demand for heating oil.
Nymex 1 month futures rose $ 0.59 intraday, at 88.38 U.S. dollars / barrel. Oil prices ended lower on Friday for the first time in 3 weeks Yin weekly income.
OPEC meeting held in Ecuador on Saturday agreed to maintain output levels unchanged. Since December 2008 OPEC announced production cuts in the history of the most significant since the output targets has remained stable. OPEC to 2011, global oil demand growth forecast at only increased by 1 million barrels to 118 million barrels; the 2011 global oil demand estimate raised 16 million barrels to 8711 million barrels higher than the 2011, 8593 million barrels.
IEA (The International Energy Agency IEA) is also the increase in demand for crude oil in 2011 forecast since the previous monthly report, raised the standard of 13 million barrels to 132 million barrels.
National Bureau of Statistics of China announced on Saturday that China in November consumer price index (CPI) rose 5.1%, 4.7% higher than the market expected, and since July 2008 hit a 28-month high. The market is worried that China may raise interest rates to cool the economy, a move that will limit the world's leading energy consumer fuel demand, traders was actively do more.
MF Global analyst Edward Meir, senior commodities, said that given China's high inflation data, expected inflation will soon rise further. This will eventually lead to overheating in some commodity markets have been revised downward.
University of Michigan data released on Friday showed U.S. December University of Michigan consumer sentiment index has been created in June 2010 the highest level, indicating that the U.S. economic outlook is more optimistic. U.S. December University of Michigan consumer sentiment index 74.2, higher than expected 72.5, before the value of 71.6; initial expectations index 66.8, expected 66.2, the former value of 64.8; Present Situation Index initial value of 85.7, expected 83.1, the former value of 82.1.
U.S. Department of Commerce (Commerce Department) on Friday (December 10) published data showed the U.S. trade deficit unexpectedly narrowed in October, reaching its lowest level during the year, as exports surged to the highest level more than 2 years. Data showed the U.S. trade account deficit in October fell more than 13% of the monthly rate to 38.71 billion U.S. dollars, the expected deficit of 43.8 billion; September revised value of 44.6 billion U.S. dollars, the initial value of 440 billion U.S. dollars.
Beijing time 18:48, Nymex 1 month crude oil futures report $ 88.60 / barrel. (Green Miao)