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ConocoPhillips Newsroom
Two news items boost international oil prices, PetroChina's Hong Kong stocks rise over 4%.
① Why did the usa announce sanctions on Iranian oil? ② What effects will OPEC+'s delay in increasing production have on the crude oil product market?
OPEC+ production increase plan may be delayed by three months, and crude oil prices have seen the largest two-week gain in two weeks.
The sanctions on Iran's crude oil product and the expected OPEC+ production agreement are jointly driving up oil prices.
Crude oil: Oil prices rise as the usa intensifies sanctions on Iran and OPEC+ makes progress towards delaying production resumption.
Crude oil prices saw the largest increase in over two weeks on Tuesday, as the usa announced additional sanctions on Iranian crude oil, and OPEC+ made progress toward further delaying production increases.
Update: WTI Crude Closes Up 2.7% as OPEC+ Seen Delaying Return of Production Cuts
OPEC+ Production Increase Likely to Be Postponed for Another Three Months – Commerzbank
Oil Trades Higher as OPEC+ Seen Delaying Return of Production Cuts to Market
Buoyed by Trump's election victory, optimism among the usa business community has reached a multi-year high.
Since Trump won the usa presidential election, multiple surveys have shown that American businesses are becoming more optimistic about their prospects. They expect the Trump administration to implement more pro-business policies and reduce regulatory burdens.
Is ConocoPhillips Stock Underperforming the S&P 500?
One bad news for oil bulls: OPEC+ "no more".
OPEC's control over the oil market is increasingly weakening, and if no action is taken, the organization's control may completely disappear.
Afternoon crude oil analysis: Brent crude oil futures prices have increased slightly, and the oil field in Kazakhstan remains shut down...
Kazakhstan's Deputy Minister of Energy, Alibek Zhamauov, stated on December 2nd that due to maintenance reasons, Kazakhstan's Tengiz oil field with a production capacity of 0.6 million barrels per day is still partially shut down.
Oil Prices Hold Steady Ahead Of OPEC+ Meeting
OPEC's crude oil production capacity has expanded for two consecutive months, and the rhetoric of "overcapacity" is sweeping the oil market.
In November, the daily production increased by 0.12 million barrels; under pressure from allies, Iraq has been reducing production for three consecutive months.
International oil prices are fluctuating within a range, and the retail price limit of refined oil may face being stranded.
Gelonghui, December 3 | According to Zhuochuang news, during this period, the domestic reference crude oil product change rate showed a gradual downward trend after turning from negative to positive.
OPEC's Power Is Waning. That's Bad for Oil Bulls. -- Barrons.com
U.S. Natural Gas Futures Retreat on Milder Forecasts -- Market Talk
Milder December Forecasts Lead to Dip in Natural Gas Stocks
Oil Prices Rise, Buoyed by Upbeat China Data Ahead of Postponed OPEC+ Meeting
Crude Oil Trades Stuck in Tight Range Ahead of Crucial OPEC+ Meeting
Europe's Gas Prices Rise on Storage Fears -- Market Talk
Oil Markets on Edge Amid OPEC+ Output Policy and European Gas Concerns