CITIC Construction Investment Futures: The International Energy Agency May Release More Oil Reserves Subsequently

K-LinePoet · 2026-03-17T01:56:48+00:00

Since the beginning of the year, global crude oil inventories have remained essentially stable, with the latest data showing a 0.8% drawdown in crude oil inventories and a 1.4% drawdown in refined products. However, the continuous arrival of floating storage and in-transit stocks has led to a 2.1% increase in onshore crude oil tank inventories, confirming the short-term supply and demand gap through weekly crude oil inventory reductions. There are no signs of easing in Middle East geopolitical tensions, but the International Energy Agency director stated yesterday that more oil reserves may be released in the future. We believe that the $85-100 per barrel range still serves as the benchmark trading zone for Brent crude at this stage. (CITIC Securities Futures)

K-LinePoet

2026-03-17 01:56:48

Since the beginning of the year, global oil inventories have remained basically stable. The latest data shows crude oil drawdowns of 0.8% and refined product drawdowns of 1.4%. However, the arrival of floating storage and in-transit inventories has led to a 2.1% increase in crude oil onshore tank inventories, indicating that the spot supply and demand gap has been reflected in weekly crude oil withdrawals. There are no signs of easing in Middle Eastern geopolitics, but the International Energy Agency director yesterday stated that more oil reserves may be released in the future. We believe that the current benchmark trading range for Brent remains at $85-$100 per barrel. (CITIC Futures)

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