Suspense heightened! OPEC officially announced the postponement of an important meeting, intensifying the battle between production cuts and increases.
The analysis pointed out that although the two meetings of OPEC+ were held online, their importance is very high, as they relate to the organization's oil production plans for the next year, which will have a huge impact on international oil prices and the revenues of member countries.
Struggling to move forward? After changing to an online meeting, the OPEC+ meeting has been postponed.
Representatives claim that the official reason for the postponed meeting is conflicting schedules of the ministers, do you believe it?
Trump's tariff plan angers many? US oil industry warns: rbob gasoline costs rise exacerbating consumer burden
① President-elect Trump of the usa threatens to impose a 25% tariff on products from Mexico and Canada, causing concerns in the oil rbob gasoline industry; ② U.S. refineries highly rely on crude oil imports. The American Petroleum Institute warns that tariffs will raise refining costs and gasoline prices, exacerbating consumer burden; ③ Analysts believe the likelihood of Trump implementing the tariff plan is small.
OPEC+ faces a difficult decision: continue to cut production or face a sharp drop in oil prices?
According to forecasts, even if OPEC+ does not increase production next year, there will still be a large surplus in the oil market. If production cuts are maintained, some member countries may easily become discontented.
Trump's oil drilling plan leaves OPEC+ in a difficult position.
Trump's aggressive plan to significantly increase usa's oil production poses a "direct threat" to OPEC+'s market share.
Express News | Singapore stock market opens: FTSE Singapore Straits Index rises by 0.18%, sgx and ocbc bank increase by nearly 1%.
Did no one want CNOOC?
Source: Yaya Hong Kong Stock Circle Author: Chengfeng $cnooc(00883.HK)$ The stock price has peaked and has been falling for almost half a year. Cnooc's main upward wave from 2022 to mid-2024 attracted the attention of many investors. With continuous adjustments in the stock price, although the market still holds a high evaluation of Cnooc, based on the stock price movements, it may seem more like, 'This stock is good, I'll sell it to you.' How should we view Cnooc at present? 1. One of the largest oil companies with the lowest costs Cnooc is China's largest offshore crude oil product and henry hub natural gas supplier, with assets spread across more than forty countries and regions worldwide.
Midday crude oil analysis: Concerns about crude oil demand, the market is focusing on this important meeting!
Due to the news of a ceasefire between Israel and Palestine, oil prices have fallen, but a weakening dollar may limit the downward pressure brought by the easing of geopolitical tensions.
On the first day in office, a major energy plan is being launched! The Trump team is preparing to promote henry hub natural gas exports and oil drilling.
Trump's energy plan includes approving new liquefied natural gas project export permits, accelerating oil drilling on the US coast and federal lands, and abolishing a series of climate legislation and environmental regulations implemented by former President Biden.
Goldman Sachs: The expected average price of Brent crude oil product in 2024 is $80 per barrel.
Goldman Sachs stated that despite supply shortages and geopolitical uncertainties in 2024, the average price of Brent crude oil this year is expected to be around $80 per barrel.
The Shanghai Stock Exchange has made a significant announcement! It concerns market cap management and the capital operations of central enterprises.
Officials from the Shanghai Stock Exchange and the three major oil and petrochemical groups jointly discussed issues such as improving the quality of listed companies, market cap management, and capital operation of central enterprise groups.
Midday crude oil analysis: Escalating Russia-Ukraine conflict continues to drive international oil prices higher...
During the early trading session in Asia, as the conflict between Russia and Ukraine intensifies, the price of Brent crude oil futures has slightly increased.
OPEC+ has very little room for maneuver: the oil price war cannot be won, and it is also impossible to further reduce production.
OPEC+ may continue to make significant production cuts for a longer period of time.
Midday crude oil analysis: USA crude oil inventories rise to a 14-week high, why is the crude oil price still rising?
Despite the usa crude oil product inventory rising to a 14-week high, brent crude oil futures slightly increased in asia's early trading.
Trump has become a bearish factor, clearing the geopolitical risk premium in the oil market!
The clearing of geopolitical risk premiums is the latest indication that traders believe there is almost no room for oil prices to rise.
Afternoon crude oil analysis: Supply tightness causes oil prices to rise, Brent crude oil futures soar in Asia's early trading.
Due to supply disruptions from Norway and Kazakhstan, Brent crude oil futures rose during the early trading session in Asia.
Bank of America warns: oil prices will plummet during Trump's term!
Bank of America strategists indicate that Trump's tariff policy may lead to a trade war, which is a major downside risk to global oil demand.
Afternoon crude oil analysis: How will the changes in Trump's energy policy affect Brent crude oil prices?
Trump's new energy team is formed, and Brent crude oil responds with a rise... How will future energy policies impact the global market?
IEA: Crude oil demand growth in 2024 may be halved, with a surplus of over one million barrels of crude oil expected every day next year.
In terms of demand, the IEA expects that this year, global oil consumption will increase by 0.92 million barrels per day, which is less than half of the growth rate in 2023. By 2025, demand will grow by 0.99 million barrels per day. However, the IEA predicts that supply growth will continue, with production from countries such as the usa, Brazil, Canada, and Guyana increasing by 1.5 million barrels per day this year and next.
Afternoon crude oil analysis: The strong dollar is coming, with expectations of a global increase in oil inventories. Where will Brent crude oil prices head?
Due to the strengthening of the US dollar and expectations of an increase in global crude oil product inventories, Brent crude oil futures fell during the Asian morning trading session.