super energy power

"Milton's quota has been used up, do you want to continue investing?" Qi Xiao pushed the door in. Since the futures war officially started, he moved his headquarters to the second floor of the exchange. .

Su Cheng said without raising his eyelids: "Maintain the current strength, if the funds are not enough, increase the leverage."

"Increasing leverage?"

"Up to 15 times."

Leverage is to use a small amount of money to leverage a large amount of funds, which is the most interesting margin design for futures trading.Futures traders only need to provide 10 or less money, and they can get full funds from banks or other financial institutions to purchase futures.

Once the loss caused by the fluctuation of the futures contract exceeds the margin set by the transaction party, the bank will ask for additional funds. If the transaction party has insufficient funds, the bank will unceremoniously close the position, thereby recovering its own funds. Under this circumstance, no matter how much money you have to close the position, you will not get a penny.

In the futures exchange, it is impossible to have no leverage at all, because the fluctuation of the futures contract itself is very small, and it is impossible to make money without zooming in.Sioux City was exhausted, only to get the result that the oil price fell by 2 dollars. If there was no leverage, the Pan Asia Fund would only make 10 to 10% in this round, but with more than 100 times the leverage, their profit would reach [-]. .

Except for insider trading operations like Sioux City, it is rare for a normal futures contract to have a fluctuation of 3. If there is no leverage, the so-called financial people have already switched careers.

However, increasing leverage also means increasing risks. If the price of crude oil returns from US$16 to US$18, Dahua Industrial’s margin must be increased.

Qi Xiao obviously didn't think that $16 was the central point, and hesitantly said: "Today's trading time is coming to an end, so let's slow down a little bit, I guess a few billion dollars will be enough..."

"There is more than one battlefield, you go and give the order." Su Cheng's order was direct and clear.

Qi Xiao confirmed it now, but his eyes lit up, and asked: "Su Dong, where else is the battlefield?"

"You come in another hour, if the opportunity is good, we will fuck."

"Received." Qi Xiao ran out with the wind on his feet.

Oil prices have remained between $16 and $16.50 for quite some time, and as the market break approaches, most agree that prices have stabilized for the time being.

Qi Xiao also took advantage of his free time to sneak into the small office in Su Cheng, and asked again: "Su Dong, where is the second battlefield?"

"What do you think?"

"NYMEX!" Qi Xiao's excited eyes lit up, and his tone was extremely positive.

After all, the global crude oil futures trade, one is on the London International Petroleum Exchange, and the other is on the New York Mercantile Exchange.Crude oil prices in London fell, and New York’s could not be unaffected. In fact, arbitrageurs of West Texas Intermediate crude oil in New York today made a lot of money, and the price of WTI also approached from US$17.12 to US$16.

Su Cheng smiled mysteriously, and said, "I guessed half right."

"half?"

"We make price differences." Su Cheng didn't hold back anymore.

The so-called spread is the price difference between North Sea Brent crude oil on the London Exchange and West Texas Intermediate crude oil on the New York Exchange.Of course, it is North Sea Brent crude oil and West Texas Intermediate crude oil, but as long as they meet the standards set by the two, they can be shipped into the delivery warehouse.

But because of this, the prices of the two have been affected differently.North Sea Brent crude on the London Exchange can be shipped to overseas markets, making its price more vulnerable to political factors and disruptions in crude exports, with West Texas Intermediate delivered at the U.S. state of Oklahoma In the Cushing area, its prices are more susceptible to the economy and weather in the continental United States.

In other words, crude oil prices on the London Exchange are more international, while crude oil prices on the New York Exchange are more American.

If the weather in the United States turns cold or the U.S. economy is strong, the price of crude oil on the New York Exchange will rise, while at the same time, the price of crude oil on the London Exchange will not change much, which forms a price difference. .

London North Sea Brent was more expensive than New York WTI for most of 94.However, today's crude oil plunge has made the price in New York higher than that in London.

If the price difference between the two is correctly judged, the profit is also not small.

Qi Xiao nodded vigorously. There are very few opportunities to do futures in China. Before 00, it was either a few tycoons who entered the market by mistake, or it was simply a trader with a national name, who was able to get involved in such a high-end futures product as the spread of crude oil. Of course it couldn't be better.

"If you were asked to decide, what direction would you go?" Su Cheng looked at his watch and checked Qi Xiao.

This is an important question, Qi Xiao's spirit suddenly became tense, and he thought about it carefully.

He is already coordinating and contacting crude oil speculation. If he can't give a correct answer, Sioux City may find another person in charge.

For Qi Xiao who just fell in love with this position, he absolutely does not want it to be so.

Crude oil spread contract, or bet on the increase of the price difference, or bet on the decrease of the price difference, there are only two answers, choose one at random, the chance of winning is 50, and the chance of failure is also 50, which is more difficult for those who cannot afford to lose decision.

"The price difference will shrink... If I were to decide, I would choose the direction of narrowing the price difference." Qi Xiao uttered the answer with difficulty, and the next sentence was much smoother: "The price of crude oil in London has bottomed out, and the price in New York is based on arbitrage Then, once the price in London rebounds, the price in New York will rebound at a faster speed, but the price it rebounds will certainly not exceed the original price. In this way, the price difference between the two will still narrow In addition, we can also control the rising speed of oil prices in London to a certain extent, and it is more beneficial for us to control risks by choosing a narrower price difference.”

"The analysis is good." Su Cheng smiled a little.

Qi Xiao also smiled.

Then, Su Cheng smiled and said, "Unfortunately, I was wrong."

"Puchi..." Xiaopang, who was so bored, sprayed tea in the corner.

Qi Xiao was also very embarrassed.

Su Cheng shook his hand and said, "You are right to choose to narrow the price difference, because you don't have all the information. I'm afraid something else will happen in the next day or two, so...do you have the confidence to contact both sides of the Atlantic at the same time?"

"No problem." Qi Xiao cheered up again, like a man who was awakened twice in one night, feeling proud and powerful, and when the breath dissipated, he tried to ask: "What is the information you said that I didn't have?" What do you mean?"

"OPEC."

"OPEC?" It took Qi Xiao two seconds to understand the word, and after two full seconds, his entire face turned red, as if he had been awakened three times in one night.

For people in the oil circle, this deformed giant will always be the most high-end existence. The organization composed of 12 oil-producing countries cannot be described too much. Let alone the strength of other company alliances, if they form a long-term The first thing a joint organization faces is the anti-monopoly laws of various countries.At that time, European and American companies headed by Exxon and bp wanted to negotiate with OPEC, and they had to go to the US Department of Justice to obtain a written document that would not be sued for monopoly before they could fly. OPEC, which completely ignored Western laws The organization, its own degree of freedom and resources are incomparable to ordinary company alliances.

Qi Meng had no choice but to look into Su Cheng's eyes, and asked in a low voice, "Do we have news from OPEC?"

"Yes."

"News that haven't been released yet?"

"News that hasn't happened yet." Su Cheng glared at him, and Qi Xiao put away his cautious look.

In other words, Comrade Qi Xiao was shocked again.

What happened to the news that didn't happen?When he figured out this problem, he was already in the state of four times a night——his eyes were dull, his whole body was weak, limp and dull...

"Is it an OPEC high-level meeting?" Qi Xiao didn't just guess randomly. In the past month, this is the only OPEC meeting that can happen.

OPEC is an inter-country organization, which also means that their coordination is very complicated. Therefore, the number and quality of meetings that OPEC can hold each year are limited. Generally, this year's meetings must be reserved last year.

I haven't read the high-level meeting, although the level is very high, but there is good flexibility, you can advance or postpone it if you want.

Su Cheng nodded slightly, and said, "Your Excellency Aliyev has been invited, and he should have arrived by now."

Azerbaijan is not a member of OPEC, but as an oil-producing country outside OPEC, its status is equally important.

Qi Xiao didn't have the strength to be a man of five times a night, so he didn't ask any more details, and said flatly, "I'll go back and get ready."

"Maintain the rhythm of shorting, don't be afraid."

"Understood." Qi Xiao was full of confidence.

……

Once Aliyev landed in Geneva, he was loaded into the Saudis' limousine.

The purpose of OPEC's establishment is to fight against Western countries, and their main means is to coordinate the oil policies of oil-producing countries and agree on crude oil production and prices.

During the first and second oil crises, OPEC won the victory by reducing production and embargoing. The era of low oil prices came to an end, and the economic golden age of European and American countries also came to an end.Since then, OPEC's policies have become the weather vane of the oil market. Whether it is the OPEC ministerial meeting or the high-level meetings among OPEC member states, they all affect the international oil price, and they are also the protagonists in the news of various countries as usual.

Thanks to the efforts of OPEC, the price of crude oil remained stable throughout the 90s, bringing huge profits to oil-producing countries.

However, competition is always the mainstream of the market.

To keep crude prices stable, oil-producing countries tend to produce less than they can.The Middle East has been doing transportation and refining construction all the year round, but rarely adopts advanced oil extraction methods, especially oil production equipment that increases the extraction speed. It has always been difficult to promote in the Middle East. Countries like Iran, from the 70s to the 21st century During the 10 years in the 40s, they did not update their oil production equipment. Of course, this is not because their oil production equipment is durable. It is just that there is no need to increase production, and newer and better equipment is not worthwhile.

However, every oil-producing country is willing to limit production. For example, when Saddam Hussein was in power, Iraq was the most disobedient student in the OPEC class. Saddam used methods such as forcing production increases, stealing production, and even threatening to withdraw All over the place, especially after the end of the Iran-Iraq War, Saddam, who was poor and crazy, didn't care what OPEC said at all, he just blindly increased production.

The oil-producing countries other than OPEC have also caused OPEC's troubles, especially those countries that import and export crude oil, which have always been the focus of OPEC's win over.

The reason is very clear. Crude oil self-sufficiency or crude oil importing countries, no matter how much their own production is, are buyers in the international market. Their crude oil will not appear in the international market, and they can’t do it even if they want to hoard it. The United States In the end, people only built a 90-day crude oil reserve. The short-term impact on the market is not small, but the long-term impact is hard to say.

On the contrary, it is those net exporters of crude oil whose surnames are similar to OPEC countries but are not OPEC countries, so OPEC has to be cautious.For example, countries such as Mexico, Oman, and Brunei, although their crude oil production is not necessarily much higher than that of countries like the United Kingdom, but because most of the crude oil they extract is for export, they have a greater say in the international market Not a lot.

For the sake of protecting interests, OPEC will contact these countries when determining the output over the years, and set an approximate oil production target, so as not to reduce the output but fail to achieve the target, and finally give up all the benefits to others.

At present, the politics of the republics of the Soviet Union gradually stabilized and the crude oil production gradually recovered, such as Azerbaijan, Kazakhstan and other countries have become the objects of OPEC's best efforts to show favor.

Aliyev also needs diplomatic support from Middle Eastern countries at this time, but more importantly, he is striving for economic interests for Azerbaijan.

Sioux City rushed to launch a crude oil offensive at such a point in time, and Aliyev was happy to see it succeed, which proved the importance of Caspian Sea Oil from another aspect.

In fact, the same is true. The Caspian oil circle is indeed the oil producing area second only to the Middle East oil circle, but it has not yet been recognized by the international oil industry.

If the Aqijiu Oilfield is handed over to bp for development, out of its own global strategic considerations, it will not only slow down the development progress as it has done in history, but bp can also adopt methods such as maintenance, full start, and half start when the British and American diplomacy needs it. Affecting international oil prices will make it much more difficult for Aliyev to seek diplomatic benefits.

As for now, when the Aqijiu Oilfield broke out with a production capacity of 15 barrels per day, OPEC countries can't ignore it.

Because in order to achieve the expected oil price, the OPEC countries often made a production reduction commitment of only 100 million barrels per day. In the world economic crisis in 08, OPEC only reduced production by 150 million barrels for the first time, and finally only completed the 75% target.

Azerbaijan, which came out of the former Soviet Union, suddenly entered the international crude oil market and opened 11 new oil fields. It goes without saying that Aliyev is popular.

"It looks like a lion can really open his mouth." Aliyev could not help but think of what Sioux City said while enjoying the hospitality of the Saudis.

……