KLYCY KUNLUN ENERGY COMP
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KUNLUN ENERGY COMP News
Oil Inches Lower After Rally as Investors Await U.S. Inflation Data, Fed Meeting
0748 GMT - Oil prices edge lower as investors await key U.S. inflation data and the Federal Reserve's policy meeting outcome for more clarity on the path of rate cuts and how that will affect demand.
Will oil prices have a hot third quarter? Goldman Sachs, which tore up the report over the weekend, gave a new estimate of $86.
Due to the peak travel season and energy demand caused by hot weather, global oil prices are expected to rise again this summer. According to the latest report released on Sunday by Goldman Sachs' head of oil research Daan Struyven, Brent crude oil prices are expected to rise to $86 per barrel in the third quarter of this year, an increase of nearly 7% from current levels.
Goldman Sachs draws a line for oil prices: "Floor of 75 and ceiling of 90", and there will be a "big gap" in the market in the third quarter.
Considering factors such as strong demand in the summer in the USA, replenishment of supplies between China and the USA, the return of financial demand, and OPEC holding the bottom line, the price of Brent crude oil may rise to $86 per barrel in Q3.
The peak of crude oil sell-off is over! Goldman Sachs predicts a "major supply gap" in the third quarter.
Position data indicates that the selling of Brent oil may have reached its peak.
Hong Kong stock market turmoil | Petroleum stocks fell collectively in early trading, OPEC+'s plan to increase production has a short-term impact on oil prices, institutions continue to be bullish on upstream high-dividend symbol.
According to the app of China Communications, petroleum stocks fell collectively in early trading. As of press time, Kunlun Energy (00135) fell by 3.32% to HKD 7.57, China Oilfield Services (02883) fell by 2.63% to HKD 7.4, PetroChina (00857) fell by 2.06% to HKD 7.59, Sinopec (00386) fell by 2.04% to HKD 4.79, and CNOOC (00883) fell by 1.41% to HKD 20.95. SWHY pointed out that the recent OPEC+ production reduction plan basically met market expectations, but due to the proposal for increase in production, short-term oil prices are pessimistic.
Goldman Sachs is optimistic and predicts that crude oil demand will be driven by summer travel, and "oil prices will rise to $86 this quarter."
It is expected that oil prices will rise significantly this summer due to transportation and cooling needs. Analysts at Goldman Sachs predict that Brent crude oil prices will rise to $86 per barrel, almost 7% higher than current levels.
UBS: The fall in international oil prices is only temporary, and prices will rise again in the next few months.
JPMorgan analysts believe that the recent decline in international oil prices is only temporary, and oil prices will rise again in the coming months as demand increases.
OPEC+ ministers all refute the bearish theory: the market will soon see the reality!
Saudi Arabia's energy minister, who likes to raid short, said: The market will soon realize that OPEC+ has done the "right thing"!
Continuing to ignore the price limit, Russia's oil revenue in May increased by nearly 50% year-on-year!
However, Russia also acknowledges that the surge in oil prices has ended and has lowered its annual revenue expectations for oil & gas this year.
Is the oil market under the shadow of OPEC+ for the next two years? Deutsche Bank slashes oil price forecast.
Deutsche Bank pointed out that the uncertainty caused by OPEC+ is unprecedented since the epidemic, but in the short term, the oil market's sell-off has been excessive, and tactical long positions still have opportunities.
Oil prices have plummeted! Did OPEC inadvertently help Biden out?
President Biden may have just received timely election assistance from a place he originally couldn't reach. At the ministerial meeting of OPEC+ on Sunday, the original production reduction policy was slightly relaxed, which may help to curb gasoline prices before the end of the year, thereby helping to ease the dissatisfaction of American voters with rising oil prices.
OPEC+ dealt a heavy blow to the bullish market! Pessimism continues to ferment in the oil market.
Despite OPEC+'s claim to adjust production policies according to market conditions, analysts believe that the organization has already been struggling to maintain low production levels, and the fundamentals of the oil market may further deteriorate by 2025.
After the frenzy of csi commodity equity index, Wall Street continues to be bullish on resource stocks.
Wall Street is bullish on mining and energy stocks, believing that the generous shareholder returns and significant discounts relative to the market provide upward potential for these industry stocks.
OPEC+ extends production cuts! International oil prices are plummeting, with Hong Kong's petroleum stocks all falling.
According to some insiders, the voluntary production reduction measures of 2.2 million barrels per day will be gradually eliminated from October 2024 to September 2025.
Express News | Hong Kong-listed petroleum companies fell sharply, with Kunlun Energy down more than 2%, while PetroChina, Sinopec Corp, CNOOC, and China Oilfield all fell more than 1%.
Hong Kong stock concept tracking | Suddenly "out of breath"! Europe's henry hub natural gas rose by 10%, and the tight supply and demand situation may continue until 2025 (with concept stocks).
If there is any interruption in production and supply chain of gas fields in major supplying countries such as Norway, it will further exacerbate the supply shortage and lead to a further surge in henry hub natural gas prices.
US and Brent both fell 3%! OPEC's slight easing of production cuts policy suppressed international oil prices.
Crude oil futures fell below $74 per barrel for the first time since early February. Brent crude oil futures fell nearly 3.5%, to the lowest level in nearly four months. Oil & gas analyst Javier Blas said that while OPEC+ has delayed production cuts, it is actually paving the way for increased production.
OPEC+ revealed a detailed roadmap for "production cuts end", and Goldman Sachs said it would be bearish for oil prices!
Can oil prices stabilize after OPEC+ agrees to extend production cuts? At Sunday's OPEC+ ministerial meeting, it was reported that OPEC+ had reached a preliminary agreement to extend its production cuts policy until 2025, gradually phasing out voluntary additional cuts from the end of September.
Saudi Arabia plans to start resuming part of international oil supply in October in response to falling international oil prices
Oil prices extended their decline as outsiders worried about the outlook for demand and strong supply.
KUNLUN ENERGY COMP To Go Ex-Dividend On June 4th, 2024 With 0.39265 USD Dividend Per Share
June 3rd - $KUNLUN ENERGY COMP(KLYCY.US)$ is trading ex-dividend on June 4th, 2024. Shareholders of record on June 4th, 2024 will receive 0.39265 USD dividend per share on August 2nd, 2024. The ex
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