男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Industries

Cheaper oil brings big opportunities

By Zheng Xin | China Daily | Updated: 2020-04-16 10:06
Share
Share - WeChat
An oil tanker docks at a port in Ningbo, Zhejiang province, on Feb 19. [Photo by Yao Feng / For China Daily]

While it might be a good opportunity to buy larger amounts at current prices, it still depends on costs and market conditions, said Tang Sisi, an analyst at research firm BloombergNEF.

Tang said that despite the uncertainties of the contagion's impact on refined oil products, low crude prices will help increase gross margins among domestic refiners. However, the growth of China's overall imports depends on storage availability and the recovery of fuel demand.

Li from ICIS agreed, saying that with softening domestic crude demand and China's potential purchase of more US oil as part of their bilateral trade deal, there could be some structural changes in China's crude purchase.

S&P Global Platts Analytics adjusted its 2020 global oil demand growth outlook down to 860,000 barrels per day, marking the weakest forecast since 2011. Asian refined products demand is expected to grow by 380,000 bpd in 2020, "posting its weakest growth since the global financial crisis in 2009", Platts said.

Considering the recently agreedupon reduction in global output in the current quarter, which is expected to continue over the upcoming 24 months, oil prices are unlikely to fall below $10 a barrel, Li said.

She said containment of the contagion's spread could help prop up oil prices. Otherwise, the pandemic might continue causing demand for jet fuel, gasoline and diesel to crash.

Nelson Wang, executive director of CICC research, said oil prices are expected to remain low for a bit longer, at least until the next OPEC meeting scheduled for June.

Wang also suggested China might take advantage of lower crude prices to exercise opportunistic buying and fill up its strategic petroleum reserve.

Global oil demand has dropped by as much as 30 percent, or about 30 million bpd, as measures to reduce the virus' spread have caused demand for jet fuel, gasoline and diesel to crash.

The slowing global economic growth and the ever-maturing new energy market have also contributed to oil price weakness, said Wang Li, a researcher at the Chinese Academy of International Trade and Economic Cooperation, adding the extremely low price of $30 per barrel or less will not last long, and prices are expected to gradually rebound in the near future.

|<< Previous 1 2   
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 定州市| 个旧市| 中牟县| 娱乐| 林甸县| 浏阳市| 白朗县| 曲松县| 英吉沙县| 富锦市| 乐平市| 浦县| 阳新县| 汉川市| 赣榆县| 长春市| 双江| 广汉市| 龙口市| 盘锦市| 左云县| 台南市| 珠海市| 界首市| 黄浦区| 和平区| 巫溪县| 漳平市| 昌黎县| 八宿县| 新田县| 永康市| 沙田区| 周口市| 大城县| 旺苍县| 凉城县| 绵竹市| 鄂温| 湘潭市| 股票|