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Clarkson Research: It is initially estimated that the global marine transportation of crude oil trade volume will increase by 2.7% in 2025.
Clarkson Research published a study report stating that the preliminary estimate for the global marine transportation crude oil trade volume is expected to grow by 2.7% in 2025.
Oil Prices Rise as OPEC+ Seen Delaying Supply Hike While U.S. Inventories Rose Last Week
Crude Oil Prices Stabilize as Market Pits Geopolitical Tensions and Supply Cut Extensions Against Weak Demand
Sinopec Corp (00386.HK) spent HK$11.8496 million on repurchasing 2.76 million shares on December 4th.
Gelonghui reported on December 4 that sinopec corp (00386.HK) announced that on December 4, 2024, it will spend 11.8496 million Hong Kong dollars to repurchase 2.76 million shares, with a repurchase price of 4.2-4.35 Hong Kong dollars per share.
The domestic refined oil prices will not be adjusted according to the mechanism.
The National Development and Reform Commission's Pricing Department stated that since the adjustment of domestic refined oil prices on November 20, 2024, fluctuations in international oil prices have been running. According to the current domestic refined oil price mechanism calculations, today (the 4th), the average price for the first ten working days compared to the average price for the first ten working days on November 20, while considering the unadjusted amount on November 20, indicates that the cumulative adjustment amount is less than 50 yuan per ton. According to regulations, there will be no adjustment to gasoline and diesel prices this time, and the unadjusted amount will be added or offset in the next price adjustment. The three major companies, PetroChina, Sinopec, and CNOOC, along with other crude oil processing enterprises, need to organize the production of refined oil effectively.
PetroChina (00857.HK) rose over 4% in anticipation of OPEC+ extending production cuts and instability in the Middle East.
The market is hopeful that OPEC+ will decide to further delay the restoration of crude oil production capacity, as oil prices reached their largest single-day increase in two weeks the night before (on the 3rd). Additionally, Iran's consideration of sending troops to Syria has also boosted oil prices today (the 4th), with January New York crude and February Brent crude both rising over 0.2%.
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