00702 SINO OIL & GAS
- 0.053
- -0.001-1.85%
SINO OIL & GAS News
Macquarie: The global oil market is expected to face "severe oversupply" by 2025.
According to the McKinsey supply and demand equilibrium forecast, the oil market will face a serious supply surplus in the next five quarters, triggering a situation similar to a 'price war', and oil prices may fall to around $50 per barrel.
Oil on Track for Weekly Gains After Global Benchmark's Dip Below $70 a Barrel
Sino Oil & Gas (00702.HK) will hold a hearing on the liquidation application and negotiate with creditors and relevant parties for a plan.
On September 13th, GeLongHui announced that sino oil & gas control (00702.HK) has submitted an application for liquidation, including a hearing and creditor plan. The company hereby updates that the appeal court rejected the company's appeal at the hearing held on September 13, 2024, and the company will negotiate with relevant parties to consider: (1) signing a supplementary agreement; or (2) terminating the restructuring agreement and signing a new agreement in due course.
Express News | Sino Oil and Gas - Will Negotiate With Relevant Parties and May Consider to Terminate Restructuring Agreement, Others
Express News | Sino Oil and Gas Holdings Ltd - Court of Appeal Has Dismissed Company's Appeal in Hearing Held on 13 September 2024
Demand expectations suffer another blow, WTI falls to a new low for the year.
This week (9.5-9.11), the overall crude oil price showed a downward trend. The average price of WTI this week is $67.72 per barrel, a decrease of $4.53 per barrel, or -6.27% compared to the previous week.
Oil Futures Extend Recovery From Lows -- Market Talk
Crude Oil Extends Rebound Amid Concerns About Impact of Francine Tropical Storm on US Production
Zhongtai Securities: The performance of the three major oil companies is impressive, and the fixed price supports the profit of Changsi.
The growth rate of the polyester filament industry is expected to slow down significantly in 2024. According to the statistics of Zhongtai Securities, the industry is expected to only add about 0.95 million tons of capacity in 2024. Considering the shutdown/reduction and elimination of some facilities, the actual increase in production may be even lower, and the overall capacity of the industry may have already reached its peak.
Oil Price to Average $60 in 2025, Citigroup Says
US Total Crude Oil Stocks Rebound in Week Ended Sept. 6
Oil: Slowing Demand Weighs on Prices – TDS
Oil Prices Bounce, Lifted by Drop in Crude Inventories and Hurricane Francine
Energy Stocks Erase 2024 Gains as Brent Dips Below US$70
Oil Rebounds Over 1% On Falling U.S. Crude Stocks And Storm Concerns
Worse than the financial crisis and the COVID-19 pandemic! Illustration: To what extent has the oil market collapsed?
① As global benchmark Brent crude oil fell below $70, oil prices have reached their lowest level since December 2021; ② In fact, what is even more alarming to market participants than the sharp decline in prices may be the popularity of the crude oil market.
Oil Prices Tumble to Their Lowest Level Since 2021 -- WSJ
EIA Predicts Oil Prices Will Recover in 4Q on Inventory Draws
Did oil prices plunge due to oversupply? Senior commodity analyst: The market is "scared".
①Currie said at the annual Asia-Pacific Petroleum Conference in Singapore that the market's concerns about oversupply were "completely exaggerated," and "in terms of oil, this year's production in the USA remained stable"; ②"The key issue is that the market has seriously overestimated the extent of oil supply glut, and the record short positions reflect this... I have never seen this situation before."
Oil Prices With Massive Weekly Losses – Commerzbank
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