The Annual Offshore Oil & Gas Event
logo

The 25thBeijing International Offshore Oil & Gas Exhibition

ufi

BEIJING,CHINA

March 26-28,2025

LOCATION :Home> News > Industry News

Oil Falls More Than $1 on Kuwait, Saudi Signals; China Offsets

Pubdate:2014-10-14 10:12 Source:fengyang Click:

Global oil futures lost more than a dollar on Monday after Saudi Arabia and Kuwait signalled ample supplies and their willingness to bear lower prices to defend market share, although better than expected trade data from China pared oil's losses.

China's export and import growth unexpectedly trumped forecasts in September, while the world's largest energy consumer increased crude oil imports by 9.5 per cent from a month ago, data showed on Monday.

"That's very good news for oil prices," Rikio Ishikura, a commodity broker at Newedge Japan said, but he was cautious about whether China has really embarked on a recovery track as the global economic outlook remained gloomy.

Brent crude oil briefly touched its lowest since December 2010 at $87.74 in early trade, but pared losses after the China data to trade at $89.04 a barrel by 0323 GMT, down $1.17. US crude fell $1.13 at $84.69, after slipping to a low of $84.25 on Monday, near July 2012 levels.

Contrary to market expectations, OPEC producers Saudi Arabia and Kuwait look set to keep output steady, and their willingness to bear with lower crude prices sparked another round of sell-off in oil on Monday.

Some stop-loss selling may have been triggered, leading to the sharp falls in prices earlier on Monday, Newedge's Ishikura said.

The world's top oil exporter Saudi Arabia has privately told oil markets that it is ready to accept oil prices perhaps down to $80 a barrel, probably to fend off competition as rival producers expand.

Kuwait's oil minister Ali al-Omair was quoted as saying by state news agency KUNA on Sunday that OPEC is unlikely to cut oil production in an effort to prop up prices because such a move would not necessarily be effective.

Omair said $76-$77 a barrel might be the level that would end the oil price slide, since that was the cost of oil production in the United States and Russia.

Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) are scheduled to meet in Vienna on Nov. 27 to consider whether to adjust their output target of 30 million barrels per day (bpd) for early 2015.

Some OPEC members are clamouring for urgent production cuts to push global oil prices back up above $100 a barrel.

Saudi Arabia reported September production of 9.704 million barrels per day (bpd), up from 9.597 million in August, according to a monthly OPEC report issued on Friday.

The lack of a Saudi cut could add to perceptions of traders and analysts that the kingdom is looking to defend market share, not prices.

主站蜘蛛池模板: 青青青青青国产免费手机看视频| 久草视频资源在线观看| 99香蕉国产精品偷在线观看| 男女一边摸一边做爽爽毛片| 好爽又高潮了毛片免费下载| 免费福利小视频| pruburb.html官网| chinese真实露脸hotmilf| 类似爱情1未删减版视频| 少妇无码太爽了在线播放| 免费人成网址在线观看国内| eva樱花动漫网| 欧美重口绿帽video| 国产精品无码翘臀在线观看| 亚洲不卡中文字幕| 黑人一个接一个上来糟蹋| 日本欧美大码aⅴ在线播放| 国产h在线播放| 一本色道久久88亚洲精品综合| 男生和女生在一起差差的很痛| 天堂а√8在线最新版在线| 亚洲日韩亚洲另类激情文学| 你懂的视频网站| 日本高清免费xxx在线观看| 国产zzjjzzjj视频全免费| 一级成人毛片免费观看| 特级一级毛片免费看| 国产精品天堂avav在线| 久久综合久久久久88| 色婷婷六月亚洲综合香蕉| 工棚里的换爱系列小说| 亚洲综合区小说区激情区| 5g探花多人运动罗志祥网址| 最近最新2019中文字幕4| 国产丰满老熟女重口对白| 一本色道久久88亚洲综合| 欧美视频在线观看免费最新| 国产欧美日韩综合精品一区二区| 久久久久中文字幕| 白白色免费在线视频| 国产精品伦一区二区三级视频|