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 slips after Saudi-Russian revival talk "popped the bubble"

Pubdate:2018-05-30 11:10 Source:liyanping Click:
NEW YORK (Bloomberg) -- Crude fell for a fifth straight day as the market weighs the prospects of rising production from Saudi Arabia and Russia.

Futures fell 1.7% in New York to their lowest level in six weeks. Saudi Arabia and Russia last week signaled they may restore some of the output they’ve curbed since late 2016 as they sought to drain a global glut. Now the market is awaiting a meeting of OPEC and its partners in Vienna set for late June to find out if those limits will remain.

“Clearly, the commentary from Russia and Saudi Arabia popped the bubble,” said John Kilduff, a partner at Again Capital LLC in New York. “There’s some legitimate skepticism about whether or not they’ll follow through. There is going to be nervousness right up until next month’s meeting.”

Talk of rising output from the world’s top two oil exporters wiped out this month’s rally in WTI and nearly erased Brent’s, which had been fueled by concerns that supplies from Iran and Venezuela will shrink. Yet, as questions swirl around the June meeting, OPEC and its allied producers concluded that the crude market re-balanced last month.

West Texas Intermediate for July delivery dropped $1.15 to settle at $66.73/bbl on the New York Mercantile Exchange. Futures’ fifth straight session of declines is the longest such stretch since February. There was no settlement Monday for WTI because of the U.S. Memorial Day holiday, and all trades will be booked Tuesday.

WTI closed below a key technical level Tuesday, it’s 50-day moving average. This tends to be viewed as a bearish signal.

Brent futures for July settlement rose 9 cents to end the session at $75.39/bbl on the London-based ICE Futures Europe exchange after earlier falling as much as 1%. The global benchmark traded at a $8.66 premium to WTI for delivery the same month.

Energy ministers from Saudi Arabia, the United Arab Emirates and Kuwait plan to meet on Saturday to discuss OPEC matters, according to people with direct knowledge of the matter. Oman’s Oil Minister Mohammed Al Rumhi may join, they said.

“I’m guessing that such a meeting would lead to some sort of practical applications of production increases,” said Thomas Finlon, director of Energy Analytics Group LLC in Wellington, Florida. Meanwhile, June’s OPEC meeting “is around the corner,” he said.
 

主站蜘蛛池模板: 久久综合九色综合网站| 精品伊人久久大香线蕉网站| 十六以下岁女子毛片免费| 亚洲精品tv久久久久久久久| 亚洲av午夜成人片精品网站| 一人上面一个吃我电影| 麻豆视传媒一区二区三区| 欧美一区二区久久精品| 小兔子被蛇用两根是什么小说| 国产永久免费观看的黄网站| 他强行给我开了苞| 久久久久免费精品国产| 69免费视频大片| 真正全免费视频a毛片| 日产一区日产片| 成人亚洲网站www在线观看| 又大又硬又爽免费视频| 久久综合九色综合网站| 高h全肉动漫在线观看最新| 欧美在线中文字幕| 在公交车上弄到高c了公交车视频 在公交车上弄到高c了漫画 | free性中国熟女hd| 里番acg里番本子全彩| 无码专区一va亚洲v专区在线| 四虎影院wwww| eeuss影院www在线观看免费| 精品欧洲男同同志videos| 好大好硬使劲脔我爽视频| 国产中文字幕在线| 久久精品无码精品免费专区| poren日本| 日韩一级片网址| 国产无套露脸大学生视频| 亚洲人成日本在线观看| 2016天天干| 欧美精品99久久久久久人| 大地资源视频在线观看| 人妻无码久久一区二区三区免费| 国产亚洲综合色就色| 亚洲一区二区三区久久| 2020国产精品永久在线观看|