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 rises to weekly gain as Saudis reiterate wish for stability

Pubdate:2016-08-15 11:10 Source:zhangmeng Click:
NEW YORK (Bloomberg) -- Oil climbed to its biggest weekly advance since April as Saudi Arabia signaled it’s prepared to discuss stabilizing markets at informal OPEC discussions next month after prices tumbled into a bear market.
 
Futures rose 2.3% in New York after surging 4.3% on Thursday. Talks with OPEC members and other producers may result in action to stabilize the market, Saudi Arabia’s Energy Minister Khalid Al-Falih said in a statement, according to media reports including Reuters. Global markets will continue to rebalance this year, the International Energy Agency said Thursday.
 
Oil has fluctuated after falling more than 20% into a bear market and closing below $40/bbl last week. Money managers increased wagers on declining West Texas Intermediate crude prices to a record during the week ended Aug. 2, government data show.
 
"We saw the bounce at $40 and then that got accelerated on this Saudi rumor," said Jay Hatfield, president of Infrastructure Cap Advisors LLC, a New York-based hedge fund. "If you’re short oil, you don’t want to be shorted if Saudi Arabia announces a production cut."
 
WTI for September delivery rose $1 to settle at $44.49/bbl on the New York Mercantile Exchange. Prices climbed 6.4% this week. Total volume traded was 5% above the 100-day average.
 
Stabilize Markets
 
Brent for October settlement increased 93 cents, or 2%, to close at $46.97/bbl on the London-based ICE Futures Europe exchange. Prices are up 6.1% this week. The global benchmark crude traded at a $1.79 premium to WTI for October delivery.
 
World refiners will process record volumes of crude this quarter, shrinking stockpiles, the IEA said in its monthly report. Nigeria’s oil minister said the country’s output is "dismal" this year after sustained attacks by militants have damaged infrastructure including its biggest export terminal.
 
While the market is on the path to rebalancing, reducing the inventory overhang of crude and products will take time, Al-Falih said in the statement. Saudi Arabia raised production to a record last month, according to data the country submitted to the Organization of Petroleum Exporting Countries. U.S. oil explorers added 15 rigs this week, the longest streak of drilling expansion since April 2014.
 
OPEC will hold informal talks at the International Energy Forum in Algiers, Mohammed Al Sada, Qatar’s energy minister and holder of OPEC’s rotating presidency, said in a statement on Monday.
 
"I think rebalancing is going on, and it took a while for U.S. production to go down, but it is down now," Daniel Yergin, vice chairman of consulting firm IHS Markit, said in a Bloomberg TV interview. "$50 is probably the stabilization price. You see some companies saying that in this range they can actually make money."
主站蜘蛛池模板: 日本边添边摸边做边爱边视频| 窝窝影院午夜看片| 精品人妻无码区在线视频| 日本三级香港三级久久99| 国产卡一卡二卡三卡四| 久久大香线蕉综合爱| 99任你躁精品视频| 日韩激情无码免费毛片| 国产成人精品久久一区二区三区 | 青娱乐在线免费观看视频| 日韩中文字幕电影在线观看| 国产女人的高潮国语对白| 久久免费动漫品精老司机| 被公侵犯电影bd在线播放| 无码人妻久久一区二区三区不卡| 国产xvideos在线观看| 中文国产成人精品久久水| 精品少妇ay一区二区三区| 少妇人妻偷人精品视蜜桃| 人妻内射一区二区在线视频| 99re在线播放视频| 欧美在线小视频| 国产成人欧美一区二区三区vr| 久久精品国产99国产精品| 色综合久久久久久久久久| 成人免费观看视频高清视频| 免费A级毛片无码免费视频首页| 99久久精品免费看国产一区二区三区| 欧美视频免费在线| 国产电影麻豆入口| 久久在精品线影院精品国产| 美女舒服好紧太爽了视频| 天天干天天操天天操| 亚洲欧美专区精品久久| 黄色成人免费网站| 无码精品A∨在线观看十八禁| 全黄a一级毛片| 91一区二区三区| 日韩大片在线永久免费观看网站| 国产xxxxx在线观看| JZZIJZZIJ日本成熟少妇|