Oil prices have fallen for three consecutive times, will they continue to explore the bottom in the future?

Over the past two weeks, the trading center of crude oil prices has continued to decline. What are the core factors? Since July, the overall volatility of oil prices has narrowed. What are the main factors? The market is paying attention to the fundamental situation again. How is the global supply and demand situation for crude oil currently? What are the prospects for the market in August? He Xiaoqin, senior researcher at Guotai Junan Futures Nenghua, said that worries about tariff policies and the pressure of OPEC+ to increase production have led to a continuous decline in crude oil futures. With easing geopolitical tensions and falling risk premiums, oil price volatility has narrowed. The peak season for crude oil and refined oil demand supports strong contango. Excess supply pressure still exists, and the trend of oil prices in August is expected to remain weak.