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On July 10th, the National Health Commission issued the "Notice on Strengthening the Management of Continuous Medication Use for Residents." The Notice provides policy support for establishing a scientific and standardized mechanism for managing continuous medication use for residents, forming a fair, accessible, systematic, continuous, high-quality, and efficient medication service system. It makes specific provisions in three main aspects: First, establishing and improving a multi-level management mechanism. Based on the actual situation of information technology construction at the provincial, municipal, county, and closely integrated medical consortium levels, the functions of continuous medication use management for residents within the region will be expanded. Second, promoting the co-construction and sharing of medication information, mainly including prioritizing the use of national standards for data collection, recording complete medication information for residents, standardizing individualized medication management for patients, establishing and improving regional medication monitoring and analysis mechanisms, assisting in improving clinical pharmacy service capabilities, strengthening the supply of convenient and beneficial services for residents, and establishing a clinical medication feedback mechanism. Third, standardizing the entire process management of continuous medication use for residents, mainly clarifying the management responsibilities of health administrative departments at all levels and the leading hospitals of closely integrated medical consortia.The National Bank of Kazakhstan reported that Kazakhstans net gold and foreign exchange reserves in June totaled $60.161 billion (a 7.8% decrease month-on-month).On July 10th, the National Energy Administration issued the "Action Plan for Energy Conservation and Carbon Reduction in the Energy Sector (2026-2028)". The plan proposes to conduct research and development on cutting-edge low-carbon, zero-carbon, and negative-carbon technologies. Focusing on key areas such as the clean and efficient utilization of fossil fuels and the large-scale utilization of renewable energy, the plan calls for increased efforts in forward-looking and strategic research on major cutting-edge technologies, accelerating breakthroughs in key technologies such as supercritical carbon dioxide power generation and CCUS, tackling key technologies for flexible and efficient wind and solar hydrogen production and large-scale safe hydrogen storage, and achieving breakthroughs in core technologies such as green hydrogen synthesis catalysis, low-carbon synthesis processes, and long-distance storage and transportation.JPMorgan Chase lowered its price target for Chevron (CVX.N) from $224 to $190.On July 10th, the National Energy Administration issued the "Action Plan for Energy Conservation and Carbon Reduction in the Energy Sector (2026-2028)". The plan proposes optimizing the industrial structure of oil refining and coal-to-oil gas. The oil refining industry will adhere to capacity reduction and replacement, and newly built refineries must meet benchmark energy efficiency standards. It will strengthen coal-to-oil gas production capacity and technology reserves, improve conversion efficiency, and promote energy consumption and carbon emissions per unit of product to reach or exceed industry-leading values. It will accelerate the upgrading and transformation of the oil refining and coal-to-oil gas industries. It will orderly promote the replacement of steam turbine drives with electric drive systems. It will promote the deep integration of coal-to-oil gas, oil refining, and new energy industries, encourage related projects to carry out large-scale replacement of green electricity and green hydrogen, and gradually reduce the use of fossil fuels for hydrogen production. It will promote the large-scale application of CCUS (Coal-to-Gas and Gas).

How to trade the EIA report?

LEO

Oct 25, 2021 13:27

Crude Oil Futures is not only an active market to trade but is also one of the most popular instruments available to day traders.

That makes trading Crude Oil and the crude oil inventory release, a wonderful opportunity for traders to make additional income or a stand alone income producing market.

What Does “Crude Oil Inventories” Mean?

Crude oil inventories refers to the amount of unrefined petroleum held in storage by governments and oil producers.  Supply and demand is important to understand as the more supply that keeps with demand, leads to lower prices. If demand begins to threaten supply levels, crude oil prices increase. 

When Is The Crude Oil Inventories Number Released?

The weekly EIA report release time is every Wednesday at 10:30 a.m. New York Time. This is an extremely volatile time to trade as the numbers represents the change in the number of barrels of Crude Oil held in reserve by commercial firms and the oil prices can jump which makes for some great trading action. 

What Is The EIA? 

The U.S. Energy Information Administration (EIA) collects, analyzes, and distributes independent and impartial energy information to which helps to promote sound policy making, efficient markets, and public understanding of energy and how it interacts with the economy and the environment.

 Why Is The Status Of Crude Oil Important?

Crude oil is a driver of price for many items given it is still the number one energy source in the world.  When the supply of crude oil goes down over the long term, we can expect the price of crude to increase which will increase the cost of virtually everything we buy.  If we see a higher supply of crude oil and demand is not keeping pace, the price goes down.

Crude oil prices affect the economy,  inflation rates, and even the currency exchange rate between the USDCAD pair.  

Crude Oil Price And Economy

How The Economy Is Affected By Crude Oil Prices?

As Stated, Oil Is An Energy Source Used To Produce/Deliver Virtually Everything We Have.  From Groceries To Housing, When Prices Increase Due To The Rise In Oil Prices, People Begin To Spend Less Money And The Economy Begins To Slow Down.  A Slowing Economy Can Lead To A Rise In Unemployment Which Leads To Less Consumer Spending.

Trading crude oil on these days after the release can able you to keep your trading day short and in profit as opposed to lengthy day trading sessions.



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