Oil prices rebounded to above 54 U.S. dollars

As China and Russia may cut interest rates to reduce crude oil production to offset the news of a U.S. commercial crude oil inventories increased, New York 26, a strong rebound in oil prices by 7%, once again rose above 54 U.S. dollars a barrel. As at Beijing at 23:30 on the 27th, the New York market, oil prices continue to fluctuate in the first 54 U.S. dollars. 26, the U.S. crude inventory report and a series of negative economic data so that the New York market after oil prices fell several times. According to the U.S. Department of Energy released the same day the report shows that, in the Nov. 21 week, the U.S. commercial crude oil inventories increased by 7,300,000 barrels, far higher than previous market expectations; the same period in commercial gasoline inventories increase larger than the market expected, Up to 21 four weeks, gasoline demand than the same period last year, a decrease of 2.8 percent. At the same time, the Labor Department's report showed that the United States last week for the first time the number of applications for unemployment benefits fell to a seasonally adjusted 529,000 people, it is still at the level of economic recession; the U.S. Commerce Department's report showed , Produced by the United States in October durable goods orders recorded the biggest decline in 2 years, while consumer spending dropped to the same period of "9.11" terrorist attack to the lowest level. However, China's central bank kept the benchmark lending interest rate of severe downward news boosted investor confidence in the crude oil market, oil prices rebounded strongly on the New York market. The same day another boost oil prices is the reports that the world's major oil-exporting countries may be one of Russia's accession to the Organization of Petroleum Exporting Countries (OPEC) production. According to Bloomberg News reported that the rotating presidency of OPEC, Algerian Energy and Mines Minister Khalil 26 Abha Sha said that OPEC will be held at the end of this week's informal meeting to discuss production issues. By the combined effects of all these factors into account, oil prices in New York recently repeated shocks, 27, the highest intraday rise to 54.69 U.S. dollars a barrel, the lowest it fell to 52.62 U.S. dollars a barrel. As at Beijing at 23:30 on the 27th, the New York Mercantile Exchange, January delivery of light sweet crude oil futures prices reported 54.06 U.S. dollars.