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 can top $50 with production freeze deal, Bank of America says

Pubdate:2016-04-14 10:25 Source:mcc Click:
CHARLOTTE, North Carolina (Bloomberg) -- Oil prices can climb above $50/bbl if an output freeze deal is struck in Doha this weekend, according to Bank of America Corp.
 
“A flat output profile for OPEC (excluding Iran) and Russia would tighten global balances by almost 0.5 MMbpd in the second half relative to our expectations and push the oil market into a deficit in the third quarter,” the U.S. bank wrote in a note on Wednesday. That would “push prices above $50 near term,” it said.
 
At least 15 countries—including most members of the Organization of Petroleum Exporting Countries, as well as non-members, such as Russia—have agreed to meet in the Qatari capital on the weekend. Brent crude, which sank to a 12-year low in January, has climbed about 30% since Saudi Arabia, Russia, Qatar and Venezuela reached a preliminary agreement to freeze output on Feb. 16.
 
Both a soft output freeze and a hard output freeze, with “some enforcement mechanism,” would boost prices to above $50/bbl, Bank of America said. Brent traded at $44.20 as of 12:06 p.m. in London.
 
Whatever the outcome of the meeting, the market is rebalancing, partly due to a drop in U.S. production and rising global demand, the bank said.
 
Political Risk
 
U.S. oil production stands at 9.01 MMbpd, down 6.2% from the record high of 9.61 million reached in June last year, according to the U.S. Department of Energy.
 
Bank of America didn’t exclude the possibility of a failure to reach a freeze agreement, a scenario that would lead to prices dropping below $40/bbl. One risk is that Saudi Arabia could announce an expansion in production in response to Iran’s return to the market following the end of the sanctions on its nuclear agreement in January. In that case, prices could fall as low as $30/bbl, the bank said.
 
The deputy Crown Prince of Saudi Arabia said earlier this month that the world’s biggest crude exporter would only consider an output freeze if Iran joined in, while Tehran has repeatedly said its aim is to ramp up production to recover market share lost under sanctions.
 
“Middle East politics could once again trump oil economics,” Bank of America said.
主站蜘蛛池模板: 欧美丰满白嫩bbw激情| 97sese电影| 美女的胸www又黄的网站| 日本爱恋电影在线观看视频| 国产真人无遮挡作爱免费视频| 亚洲另类欧美综合久久图片区| 91精品国产免费入口| 欧美精品v国产精品v| 国产精品熟女视频一区二区| 亚洲国产婷婷六月丁香| 男女一边摸一边爽爽视频| 欧美人与性动交另类| 国产欧美高清在线观看| 亚欧免费无码aⅴ在线观看| 国产精品亚洲四区在线观看| 日韩精品无码成人专区| 国产午夜福利精品一区二区三区| 久久国产精品免费一区二区三区 | 真实的国产乱xxxx在线播放| 好吊妞视频在线| 人妻少妇乱子伦精品| 97碰视频人人做人人爱欧美| 欧美疯狂xxxx乱大交视频| 国产精品区一区二区三在线播放| 亚洲一区日韩二区欧美三区| 国产成人三级视频在线观看播放| 日本精品啪啪一区二区三区| 国产99久久九九精品无码| 一级白嫩美女毛片免费| 男人天堂2023| 国产精品视频久久久久| 亚洲av之男人的天堂| 香蕉视频在线观看网站| 成年人视频在线观看免费| 免费足恋视频网站女王| 97av麻豆蜜桃一区二区| 杨幂最新免费特级毛片| 国产乱色精品成人免费视频| 三上悠亚伦理片| 毛片一级在线观看| 国产最爽的乱淫视频国语对|