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Cnooc's Full-Year Profit Likely Rose 17% -- Earnings Preview
Oil Futures Test Resistance on Tighter U.S. Sanctions -- Market Talk
U.S. Tariffs on Venezuelan Oil Buyers Could Tighten Global Market -- Market Talk
Macquarie: A structural Put on oil prices with advantages in the refining Business, giving SINOPEC CORP (00386) and CHINA OILFIELD (02883) an "outperform the market" rating.
The bank expects that when oil prices decline, China's refining Business will have certain advantages, predicting that this year's core refining profit margins in China may significantly rebound, partly offset by one-time inventory losses caused by the drop in oil prices in the first quarter.
Trump claims he will impose "secondary tariffs" targeting buyers of Venezuelan oil.
① Trump announced that the USA will impose "secondary sanctions" on Venezuela, and any country purchasing oil or Henry Hub Natural Gas from Venezuela will be forced to pay a 25% tariff to the USA; ② The USA is one of the destinations for Venezuela's energy, with Venezuela's Crude Oil Product export volume in 2024 estimated at approximately 0.66 million barrels per day, of which the USA's import volume is around 0.233 million barrels per day.
Trade Uncertainty, Geopolitical Tensions Increase Supply Distortions in Commodity Markets, ANZ Research Says
104065181 : Oil prices affect CNOOC more than HSI