Hedge fund bulls left the oil market and sold at the fastest speed in over a year!
As geopolitical risk premiums weakened and the market showed signs of sufficient supply, fund managers' long crude oil positions fell the fastest since March 2023 last week.
CNOOC Oilfield Services (02883.HK) received an additional 3.92 million H shares from BlackRock, worth about HK$33.9637 million
On May 17, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 17, BlackRock, Inc. (BlackRock, Inc.) increased its holdings of $3.92 million H shares in CNOOC Oilfield Services (02883.HK) at an average price of HK$8.6642 per share on May 14, worth approximately HK$39.67 million. After the increase in holdings, BlackRock's latest shareholding was 146 million shares, and the good position ratio increased from 7.86% to 8.08%. Photo Source: Stock Exchange Equity Disclosure What is equity disclosure? According to the requirements of the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of the shares
UBS: OPEC+ is expected to extend the production reduction agreement for at least 3 months, and oil will rise to $91 in June
OPEC+ will hold its next meeting on June 1, and UBS expects that the organization will agree to extend the voluntary production reduction agreement to maintain the balance of the oil market.
The trigger for the decline in the oil market? Diesel weakness has become a new focus!
Energy economists say the weakness of diesel is becoming more structural due to the increasing role of renewable diesel.
[Crude oil market closing] Inflation data strengthens expectations for the Fed to cut interest rates. The Canadian wildfires caused a supply crisis, and the rebound in oil prices responded
The market balance is bullish with the US economy and crude oil storage data and the International Energy Agency's forecast of a weak global economy, leading to an increase in oil demand. Meanwhile, a fire broke out in the major Canadian oil town, causing the market to worry about crude oil supply. Oil prices rose nearly 1% from a two-month low on the previous trading day.
CNOOC Services (601808): Industry sentiment continues to recover, Q1 performance improves sharply
The incident describes the company's publication of its 2024 quarterly report. In the first quarter of 2024, the company achieved total revenue of 10.148 billion yuan, a year-on-year increase of 20.0%; net profit to mother was 636 million yuan, an increase of 57.3% year-on-year
Energy consulting firm Rystad Energy: Gasoline demand will reach a new high since 2019 this summer
Energy consulting firm Rystad Energy said that despite recent signs of market weakness, global demand for gasoline will remain strong this summer, and consumption is expected to reach the highest level before the pandemic.
The IEA lowered its 2024 oil demand growth forecast to only half of what OPEC expected!
The International Energy Agency (IEA) lowered its forecast for oil demand growth in 2024 on Wednesday (May 14), further widening the agency's differences of opinion with the Organization of Petroleum Exporting Countries OPEC (OPEC) on the outlook for global oil demand this year.
The IEA “sings the opposite” with most of its peers: global oil demand growth is expected to continue to weaken!
The Paris-based International Energy Agency (IEA) released its latest monthly crude oil market report on Wednesday. The agency said that due to the economic slowdown and mild European weather, the outlook for global oil demand growth continues to weaken this year.
Business Association: Crude oil fell during the cycle, retail prices of domestic refined oil products fell “two consecutive declines”
The price adjustment window for this round of domestic refined oil products will open at 24:00 on May 15, and the retail price of refined oil products will soon be lowered. In 2024, the retail price of refined oil products has gone through five increases and two drops, and the crude oil market declined during the cycle, and the negative rate of change increased. The retail price adjustment for refined oil products will be lowered for the third time in 2024.
Express News | CICC: In the medium to long term, the opportunities outweigh the risks in the medium to long term, and may still be dominated by structural opportunities in the short term
OPEC+ opens rip mode, and “old scars” are once again unraveled
OPEC+ reopens the dispute, and discussions about the oil production capacity of its products OPEC+ once again faced a difficult problem: how much oil can actually be absorbed by its products. This issue poses a risk to the organization's efforts to stabilize the world market.
Express News | OPEC maintains global oil demand forecast for this year and next
OPEC+ is arguing again! “Old scars” have been revealed again
On Tuesday, according to foreign media reports, OPEC+ reopened a heated debate on the ability of member states to produce oil, raising concerns about the further breakdown of unity in the alliance. The US and Burma have plummeted in the intraday market when they heard the news, and have now largely recovered all of the declines caused by the news.
Oil market alert! Demand for diesel is weak, and refineries cut production
The profit from diesel production at Asian refineries is close to the lowest level in a year. This has prompted refineries to reduce the amount of crude oil they process.
Shale oil giants are accused of manipulating oil prices! The US energy industry faces a series of class-action lawsuits
① The US shale oil industry is currently facing a series of lawsuits, accusing some of the biggest companies in the industry of colluding to limit production and maliciously raising oil prices; ② According to reports, companies such as ExxonMobil, Occidental Petroleum, and Diamondback Energy have been named in at least 10 class action lawsuits.
Iraq wants to expand crude oil reserves to 160 billion barrels and opposes continuing OPEC+ production cuts
① Beginning on Saturday, Iraq will hold its first oil and gas exploration project auction since 2018, with companies from China, Iraq, Arabia and Europe competing; ② Iraq hopes to drastically increase crude oil reserves and reduce its dependence on imported natural gas through this auction; ③ Iraq's Minister of Petroleum also made it clear that it will not continue to support extending production limits at the next OPEC+ meeting.
OPEC+ is “showing love” again, and there may be a change in the OPEC monthly report!
The new changes reflect long-standing cooperation between OPEC and its allies in collectively determining oil production.
Overview of the Hong Kong market | The three major indices rose sharply in the afternoon, and high-interest concept stocks such as domestic banks, domestic insurance, and coal were strong throughout the day! CCB rose nearly 7%, and China's Shenhua rose mo
The trend of TechNet shares was divided. Bilibili fell more than 2% and Ali rose more than 1%; domestic housing stocks continued to rise, with Shimao Group rising 60% and Xuhui Holdings rising more than 11%.
Analysis of Hong Kong stock holdings of Haitong Securities 24Q1 Fund: increasing energy and materials holdings and reducing technological manufacturing
Hong Kong stocks led the increase in April. The increase was mainly due to positive signals in the domestic economy, the return of overseas capital, and the introduction of Hong Kong stock connectivity policies.
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