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Sinopec SSC (01033.HK) plans to hold a board of directors meeting on August 20th to approve its mid-year performance.
Sinopec SSC (01033.HK) announced that the board of directors meeting will be held on August 20, 2024 (Tuesday) to review and approve the unaudited performance of the company and its subsidiaries for the six months ending on June 30, 2024, as well as to address any other matters (if any).
SINOPEC SSC: NOTICE OF BOARD MEETING
Concerns about demand have become the main market tone. Brent crude oil fell to a six-month low at one point, while US oil fell more than 4% during trading hours.
Despite the significant escalation of geopolitical tensions in the Middle East this week, which once briefly pushed up crude oil prices, the concern about economic recession has become the main market sentiment, and investors are worried about the demand for crude oil. Oil prices fell sharply on Friday, falling for four consecutive weeks, marking the longest decline since December last year.
Despite Delivering Investors Losses of 40% Over the Past 5 Years, Sinopec Oilfield Service (HKG:1033) Has Been Growing Its Earnings
Oil: Recent Price Action Is Associated With Global Macro Flows – TDS
The Biden administration is seeking additional funds to bolster the petroleum reserves. The energy department only has 1.2 billion US dollars left in its account to purchase crude oil products.
The US Department of Energy has been slowly replenishing its global strategy petroleum reserves, which have decreased to an unprecedented low since the Russia-Ukraine conflict, reaching the lowest level in forty years.
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