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: 人妻少妇精品视频一区二区三区| 男同免费videos欧美| 水蜜桃无码视频在线观看| 日本免费色视频| 国产日产精品系列推荐| 免费一级e一片在线播放| 久久亚洲伊人中字综合精品| 黑人巨大无码中文字幕无码| 欧美高清精品一区二区| 性欧美大战久久久久久久| 卡一卡二卡三精品| 五月婷中文字幕| 91免费国产在线观看| 日韩人妻无码一区二区三区99| 国产青年摘花xxx| 亚洲日韩亚洲另类激情文学| 一区二区网站在线观看| 精品不卡一区二区| 成年人毛片视频| 午夜爽爽爽男女污污污网站| 久久久综合视频| 色播在线观看免费| 日韩一区二区三区精品| 国产精品xxxx国产喷水| 亚洲的天堂av无码| heyzo亚洲精品日韩| 精品国产欧美一区二区| 无人在线观看视频高清视频8| 国产天堂亚洲精品| 久久99久久99精品免观看| 黄色a级片免费看| 本子库里番acg全彩无遮挡| 国产网红主播无码精品| 亚洲电影在线看| 97夜夜澡人人爽人人| 欧美怡红院免费全部视频| 国产精品第八页| 久久精品青草社区| 丰满大白屁股ass| 把美女日出白浆| 伊人久久中文大香线蕉综合|