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: 永久黄网站色视频免费直播| 14又嫩又紧水又多| 毛片a级毛片免费播放下载| 国产精品美女视视频专区| 亚洲国产精品久久久久秋霞影院| 日本最新免费网站| 日本一道dvd在线播放| 国产精彩视频在线观看| 亚洲av无码专区在线| 中文字幕日韩wm二在线看| 欧美bbbbb| 国产久视频观看| gogo全球高清大胆亚洲| 激情综合色五月六月婷婷| 国产精品国产三级国产普通话 | chinese体育生gayxxxxhd| 福利视频999| 国产精品永久免费| 久久亚洲日韩精品一区二区三区| 精品久久久久久久久久中文字幕| 好男人官网资源在线观看| 亚洲欧美日韩天堂一区二区| 91成人在线免费观看| 日韩国产欧美在线观看一区二区| 又爽又黄又无遮挡的视频| 8x成人永久免费视频| 欧美人与动性行为网站免费| 国产成人精品午夜福利| 中国版老头gaybingo| 看**一级**多毛片| 国产男女野战视频在线看| 两根一进一出啊灌满了视频| 欧美日韩中文国产一区| 国产一级淫片免费播放| 丁香六月激情综合| 欧美人牲交a欧美精区日韩| 国产一区二区三区免费在线视频| 三上悠亚在线观看免费| 欧美性大战XXXXX久久久√ | 久久机热re这里只有精品15| 肉伦禁忌小说小可的奶水|