00702 SINO OIL & GAS
- 0.057
- +0.001+1.79%
SINO OIL & GAS News
Express News | Goldman Sachs expects OPEC+ to reduce supply over a longer period of time
[Crude oil market closing] The decline in US crude oil inventories far exceeded expectations for the rise in oil prices
Oil prices rose slightly on Wednesday (May 8), after US oil storage data showed that crude oil inventories declined more than expected as refineries increased production before the summer driving season arrived.
WTI crude oil once fell below 77! KITU Macro: Some geo-risk premiums have been lifted
Economists at KITU Macro said that part of the risk premium for the Iran-Israel conflict has now been lifted, and OPEC+ may gradually eliminate production cuts starting in July.
The US restarts the reserve replenishment program, and is Biden ready to deal with soaring oil prices at any time?
Biden restarts the SPR supplement plan when oil prices fall. If oil prices rise before the election, Biden may release SPR again.
Could OPEC+ “open the door” to increase production? Russia's words make the oil market uneasy!
Russian Deputy Prime Minister Novak said that the possibility of increasing oil production under the OPEC+ agreement is being analyzed.
Israel persists in its actions! How will “Operation Rafah” affect oil prices?
Analysts say everything depends on how the Houthis and other countries react to the Rafah incident.
Does Saudi Arabia have an “iron heart” to support oil prices? Raising the official price in June, sales in Asia increased more than expected
① Saudi Aramco's statement on Sunday showed that Saudi Arabia raised the official selling price (OSP) of Arabian light crude oil in June; ② the price increase for Asia was raised for the third month in a row; ③ industry insiders pointed out that Saudi Arabia's current price increase highlights that Saudi Arabia is still trying to keep the crude oil market tight at a time when the risk of conflict in the Middle East subsides.
Five consecutive drops! Oil prices fell 6% in a single week. Will the next two months be the key?
Standard Chartered Bank pointed out that May and June will be a critical period for whether petroleum fundamentals will be further tightened. At that time, inventories will decline at an accelerated pace, and global oil demand has reached a record high.
China Oil & Gas Holdings (00702.HK): Petition Hearing Postponed Until June 3
China Oil and Gas Holdings (00702.HK) issued an announcement. The High Court heard on April 29, 2024, approving the company's application for an extension and extending the hearing of the petition until June 3, 2024.
中國油氣控股：2023年報
Express News | CICC: Copper and oil prices are expected to remain high in the medium to long term
Express News | Goldman Sachs raised Brent crude oil price estimates for the second half of 2024 and 2025 to $86 and $82 per barrel, respectively (previously estimated at $85 and $80, respectively).
The commodity bull market is “popping up”, and we can still seize definitive opportunities for copper and oil
① Everyone sees copper as an important cornerstone of the energy transition. This makes for a very attractive demand-side context. ② In the absence of geopolitical supply shocks, the ceiling for Brent oil is $90. The reason is that high excess capacity and higher prices may cause OPEC+ to increase production in the third quarter.
Express News | CICC: External factors and supply clearance bring opportunities to the upstream resource industry, focusing on resource sectors such as gold, petroleum and petrochemicals, and non-ferrous metals
The tense situation in the Middle East seems to have been brought under control. Gold prices and oil prices have been weak at the beginning of the week
① Analysts said that since Iran will not carry out further attacks on Israel, the tension in the Middle East has eased; ② investors are gradually withdrawing from safe-haven assets. As of press release, the prices of assets such as gold, oil, and silver have all declined slightly.
The supply and demand pattern changed abruptly, and the Asian crude oil market was astonished: heavy crude oil with high sulfur was being chased
With changes in global crude oil supply and favorable refining returns, crude oil with higher sulphur content and density is becoming increasingly popular in the Asian physical market, a situation that rarely changes the usual situation.
Learn Citadel, Commodities “Arms Race”: AI and Big Data
Russell Hardy, CEO of Vitol, said that trading companies mainly use AI in two ways: one is to improve business efficiency, and the other is to gain trading advantages through stronger analytical capabilities.
After keeping an eye on the Middle East for a week, oil prices finally “fluctuated” and returned to a “waiting mode”
Although oil prices have never surpassed the high before Iran attacked Israel last weekend, the volume of bullish Brent crude oil options soared to a record high. Brent crude oil futures fluctuated the most in a few months, leaving traders in almost the same situation as a week ago during the weekend, waiting for the next steps of Israel and Iran.
IMF's latest assessment: Saudi Arabia may now require three-digit oil prices!
As Saudi Arabia takes the lead in cutting production, the IMF anticipates that it may now require three-digit oil prices to support domestic investment.
Israeli missiles hit Iranian targets, gold, US debt and crude oil rose in a straight line, and the Asia-Pacific stock market fell across the board
Crude oil and gold rose in the short term, and the Asia-Pacific stock index generally fell. The MSCI Asia Pacific Index fell 2% to 166.98 points. The US Treasury yield dived. The US 5-year Treasury yield fell by 10 basis points due to concerns about the situation in the Middle East. The Asia-Pacific stock market fell across the board, and the Nikkei 225 index fell to 3%.
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