Express News | Suriname State-Oil Company Staatsolie Signs Production Sharing Contracts With PetroChina for Two Offshore Blocks
Crude-Oil Futures End Week With Small Gains -- Market Talk
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
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.
Hong Kong stocks surged, petroleum stocks collectively rose, hurricanes drove up crude oil prices, and OPEC's delay in reducing production supported the oil market.
Petroleum stocks collectively rose, as of the time of publication, Sinopec (00386) rose 3.05%, to HKD 4.39; CNOOC (00883) rose 1.65%, to HKD 18.46; Kunlun Energy (00135) rose 1.24%, to HKD 7.32.
The overnight rise in international oil prices has boosted the petroleum stocks.
Golden Financial News | Overnight foreign oil prices rose, driving petroleum stocks higher. Sinopec (00386) rose 2.58%, CNOOC (00883) rose 2.09%, PetroChina (00857) rose 1.61%, Kunlun Energy (00135) rose 1.43%, China Oilfield (02883) rose 0.64%. International oil futures prices rose. NYMEX crude oil closed at $68.97 per barrel, up nearly 2.5%. London Brent crude oil closed at $71.97 per barrel, up 1.9%. Hurricane "Fransin" made landfall in southern Louisiana, USA on the 11th, affecting over 0.36 million users.
Oil Futures Extend Recovery From Lows -- Market Talk
Crude Oil Extends Rebound Amid Concerns About Impact of Francine Tropical Storm on US Production
PetroChina (601857.SH): As of the first half of 2024, the company has 22,842 domestic operation gas stations.
Gelonghui, September 12th | PetroChina (601857.SH) stated on the interactive platform that as of the first half of 2024, the company operated 22,842 domestic gas stations.
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
Sinopec Corp (00386.HK)'s controlling shareholder has accumulated a shareholding of 0.273 billion shares.
On September 11, Sinopec Corp. (00386.HK) announced that the company has received a notice from China Petroleum & Chemical Corporation (Sinopec Group). As of the close of trading on September 11, 2024, Sinopec Group and its wholly-owned subsidiary have cumulatively increased their shareholding in the company by 273,371,456 shares, accounting for approximately 0.22% of the total issued shares of the company, with a cumulative increase in shareholding amounting to RMB 1,187,146,632.57 (excluding taxes and fees). Among them, through the Shanghai Stock Exchange trading system, they have cumulatively increased their shareholding of 99,453,456 A-shares of the company through centralized bidding, accounting for approximately the total issued shares of the company.
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.
Overnight international oil prices plunged, causing market concerns. PetroChina H-shares fell more than 5%.
Why did international oil prices experience a "dive" overnight? How does the market view the future performance of oil prices?
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