00386 SINOPEC CORP
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SINOPEC CORP News
Bank of America: Oil Demand on the Rocks
China Cuts Petroleum Prices in Line With Drop in Global Prices
Based on a drop in international oil prices, China's domestic gasoline and diesel prices were reduced by 190 yuan and 180 yuan per ton, respectively, effective June 13, according to a Press Release by
Petroleum stocks are generally rising. Kunlun Energy (00135) rose 3.49%. EIA predicts that global oil demand may reach a record high this year.
Petroleum stocks generally rose, with Kunlun Energy (00135) up 3.49%, CNOOC (00883) up 2.18%, PetroChina (00857), Shanghai Petrochemical (00338), and Sinopec (00386) following the trend. The Middle East's tense situation has pushed up international oil prices overnight, with NYMEX crude oil futures settling at $78.5 per barrel, up nearly 0.8%. Brent crude oil futures settled at $82.6 per barrel, up 0.8%.
Crude oil trade reminder: Middle East tensions push up oil prices, but the Federal Reserve's attack has hit bullish morale.
Oil prices rose and fell on Wednesday, supported by continued tensions in the Middle East. Earlier in the day, oil prices rose nearly 2% to a two-week high, but closed mostly higher as the Federal Reserve's two-day meeting ended with a statement indicating that interest rate may not be lowered until December.
Citigroup Analysts Paint Bearish Picture for Global Crude Oil Prices -- OPIS
Citigroup's global commodities team on Wednesday said crude oil has missed out on what has been a "spectacular year for some commodities" and has been mostly range bound with volatility at about 10 year lows.
IEA警告！石油2030年将面临严重产能过剩，届时OPEC+也“无力回天”
石油闲置产能超过800万桶/天
Oil Inches Lower After Rally as Investors Await U.S. Inflation Data, Fed Meeting
0748 GMT - Oil prices edge lower as investors await key U.S. inflation data and the Federal Reserve's policy meeting outcome for more clarity on the path of rate cuts and how that will affect demand.
Petroleum stocks are weak. China oilfield (02883) fell 4.34%. Expectations for the new OPEC+ production cut plan have fallen through.
Petroleum stocks are weak, with China oilfield (02883) down 4.34%, Kunlun Energy (00135) down 2.94%, Sinopec (00386) down 2.45%, PetroChina (00857) down 2.45%, Shanghai pechem (00338) down 1.75%, CNOOC (00883) down 0.94%. OPEC announced after the 37th ministerial meeting that the 'voluntary production reduction measure' will be extended until the end of 2024; and the 'collective production reduction measure' will be extended until the end of 2025. Although the production reduction has been delayed,
Hong Kong stock market turmoil | Petroleum stocks fell collectively in early trading, OPEC+'s plan to increase production has a short-term impact on oil prices, institutions continue to be bullish on upstream high-dividend symbol.
Zhī tōng cái jīng APP learned that petroleum stocks fell collectively in early trading. As of press time, Kunlun Energy (00135) fell 3.32%, reporting HKD 7.57; China Oilfield Services (02883) fell 2.63%, reporting HKD 7.4; PetroChina (00857) fell 2.06%, reporting HKD 7.59; Sinopec (00386) fell 2.04%, reporting HKD 4.79; CNOOC (00883) fell 1.41%, reporting HKD 20.95. SWHY pointed out that the recent OPEC+ meeting's production reduction plan basically met market expectations, but due to the given increase plan, short-term oil prices are pessimistic.
zheshang Securities: Some terms of the OPEC+ meeting fell short of expectations, but still bullish on crude oil prices in the medium term.
With supply contraction and peak season demand, the expectation of a US interest rate cut has strengthened, and the crude oil product price is bullish in the medium term.
HK stocks fluctuate | CNOOC (00883) fell more than 3%, leading the decline in petroleum stocks. OPEC's production reduction measures did not meet market expectations, and crude oil fell more than 3%.
According to the Zhitong Financial APP, petroleum stocks collectively fell, as of press time, China Oil (00883) fell 3.09%, to HK$20.4; PetroChina (00857) fell 2.49%, to HK$7.84; Sinopec (00386) fell 2%, to HK$4.91; and China Oilfield Services (02883) fell 1.6%, to HK$8.02. In terms of news, on Sunday, OPEC+ agreed to extend voluntary production cuts until 2025, with Energy Intelligence's Amena Bakr pointing out that the voluntary production cuts will be extended until the third quarter of 2024.
[Broker Focus] CITIC Securities indicates that supply disturbances are the dominant logic of investment in the resource sector in the first half of 2024
Jinwu Financial News | CITIC Securities said that supply disturbances were the dominant logic of investment in the resource sector in the first half of 2024. In particular, copper prices showed the most prominent performance, which reached a record high. Under long-term supply constraints, it is expected that the prices of crude oil, copper, tin, etc. will continue to operate at a high level, and phased supply shortages or increased disturbances are expected to drive up the prices of products such as phosphate ore and manganese ore. In addition, commodity prices such as crude oil and copper will also benefit from the rebalancing of inflation and interest-rate cut transactions, supported by both finance and supply and demand. The bank expects the crude oil price operating range for the second half of 2024 to be 80-90 US dollars/barrel, and the copper price range is 9
Saudi Arabia plans to start resuming part of international oil supply in October in response to falling international oil prices
Oil prices extended their decline as outsiders worried about the outlook for demand and strong supply.
OPEC+ Extends Global Oil Production Cuts Into 2025 -- Barrons.com
The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, has agreed to maintain current voluntary production cuts through next year. Their decision is expected to keep oil prices higher through the U.S. presidential election.
Sinopec Publie Des Rapports Présentant Les Perspectives De Développement De L'énergie, De L'hydrogène Et De La Chimie En Chine
RIYAD, Arabie saoudite, 30 mai 2024 /PRNewswire/ -- China Petroleum & Chemical Corporation (HKG: 0386, « Sinopec ») a publié des rapports qui mettent en lumière l'avenir du secteur pétrochimique c
[Broker Focus] CITIC Securities says the peak energy demand season is approaching, crude oil demand is expected to increase slightly
Jinwu Financial News | CITIC Securities says peak energy demand season is approaching. On the supply side, the implementation of production cuts in Iraq and Russia in April fell short of expectations and insufficient support. They are concerned about new production reduction decisions that may be formed at the OPEC+ meeting in June, which may support the rise in crude oil prices. On the demand side, since May 10, China introduced a series of new real estate policies to stimulate domestic demand, market sentiment was boosted, and commodity performance was strong, driving expectations for growth in crude oil demand. According to EIA data, the US gasoline cracking gap continued to pick up after entering May, the operating rate of US refineries increased to more than 90%, and demand for refined oil products boosted with the arrival of the holidays
Sinopec Publica Informes Que Ofrecen Perspectivas Del Desarrollo De Energía, Hidrógeno Y Químico De China
RIYADH, Arabia Saudí, 29 de mayo de 2024 /PRNewswire/ -- China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") publicó informes que arrojan luz sobre el futuro del sector petroquímico de C
[Broker Focus] CITIC Securities says OPEC+ production cuts provide support for medium to high fluctuations in crude oil prices
Jinwu Financial News | CITIC Securities said that OPEC+ production cuts provide support for high fluctuations in crude oil prices. On November 30, 2023, the OPEC annual meeting decided to cut production by an additional 2.2 million b/d in the first quarter of 2024 based on the June quota and maintain production cuts until the end of June. Compared with the production reduction agreement, Saudi Arabia is implementing production cuts better, and Iraq, the United Arab Emirates, and Kazakhstan need to continue to cut production. According to the Financial Services Association on May 11, Iraq stated that it “will not support any extension of production cuts.” Furthermore, the scale of Russia's production cuts also fell short of expectations, and further attention should be paid to changes in its production in the future. If some OPEC countries
US crude oil trading reminder: oil prices rose before the OPEC+ meeting and stood at a key position in the 200-day EMA
At the beginning of the Asian session on Wednesday (May 29), international oil prices fluctuated in a narrow range and maintained overnight gains. U.S. crude oil is currently trading around $80.20 per barrel.
The Fed's interest rate cut is expected to fall again, and international oil prices will rise first and then fall
This week (5.16-5.22), crude oil as a whole showed a trend of rising and then falling. WTI averaged 79.18 US dollars/barrel this week, up 0.53 US dollars/barrel, or 0.67% from the previous week.
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