2019年7月4日（木）
At the end of six hours of negotiations
Singapore: Oil prices surged Thursday after the OPEC producers&pneumatic seal Suppliers
039; group surprised the market with a deal to slash output.29 and Brent crude for November # added 22 cents to $48.Angus Nicholson, a Melbourne-based analyst with IG Markets said the OPEC decision was the main impetus for the price surge but said details of the deal "sound a bit fuzzy at the moment".
A decline in crude stocks signals stronger consumption and is positive for oil prices.."A more comprehensive deal from OPEC and Russia at the November meeting would easily clear the way for WTI oil to trade around US$55."Nicholson also said official data showing a rise in the weekly US commercial crude inventories helped to boost the market.Market watchers had been pessimistic about a cut or a freeze after similar efforts fell apart in April due to disagreements between OPEC majors Saudi Arabia and Iran.The decision to cut output caught the market offguard.91 a barrel.47 billion, bpd in August, the International Energy Agency (IEA) said.5-33 million barrels per day (bpd) from 33.At around 0100 GMT, US benchmark West Texas Intermediate (WTI) for delivery in November was up 23 cents to $47.9 million barrels, confounding expectations for a rise of three million barrels.The informal meeting was held on the sidelines of an IEA meeting in a bid to stabilise prices that have been battered by a stubborn supply glut since 2014.
At the end of six hours of negotiations and weeks of horse trading, OPEC announced the plan to cut production to a level of 32."This has now been four straight weeks of back-to-back declines in crude oil inventories, which is also very supportive of the spot price," Nicholson said.Oil prices soared by as much as six percent following the news and extended gains in Asian trade on Thursday although at a slower pace."There is the possibility that OPEC managed to commit to a weak deal at this meeting that may pave the way for a more comprehensive production cut at the November meeting," he said in a note, referring to OPEC's formal meeting on November 30.A decline in crude stocks signals stronger consumption and is positive for oil prices.The US Energy Information Administration said Wednesday that crude stocks in the world's top oil consumer fell by 1.
039; group surprised the market with a deal to slash output.29 and Brent crude for November # added 22 cents to $48.Angus Nicholson, a Melbourne-based analyst with IG Markets said the OPEC decision was the main impetus for the price surge but said details of the deal "sound a bit fuzzy at the moment".A decline in crude stocks signals stronger consumption and is positive for oil prices.."A more comprehensive deal from OPEC and Russia at the November meeting would easily clear the way for WTI oil to trade around US$55."Nicholson also said official data showing a rise in the weekly US commercial crude inventories helped to boost the market.Market watchers had been pessimistic about a cut or a freeze after similar efforts fell apart in April due to disagreements between OPEC majors Saudi Arabia and Iran.The decision to cut output caught the market offguard.91 a barrel.47 billion, bpd in August, the International Energy Agency (IEA) said.5-33 million barrels per day (bpd) from 33.At around 0100 GMT, US benchmark West Texas Intermediate (WTI) for delivery in November was up 23 cents to $47.9 million barrels, confounding expectations for a rise of three million barrels.The informal meeting was held on the sidelines of an IEA meeting in a bid to stabilise prices that have been battered by a stubborn supply glut since 2014.
At the end of six hours of negotiations and weeks of horse trading, OPEC announced the plan to cut production to a level of 32."This has now been four straight weeks of back-to-back declines in crude oil inventories, which is also very supportive of the spot price," Nicholson said.Oil prices soared by as much as six percent following the news and extended gains in Asian trade on Thursday although at a slower pace."There is the possibility that OPEC managed to commit to a weak deal at this meeting that may pave the way for a more comprehensive production cut at the November meeting," he said in a note, referring to OPEC's formal meeting on November 30.A decline in crude stocks signals stronger consumption and is positive for oil prices.The US Energy Information Administration said Wednesday that crude stocks in the world's top oil consumer fell by 1.
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