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Changes in Hong Kong stocks | Petroleum stocks bucked the trend and the market focuses on OPEC+ conference bodies are optimistic that oil prices will stop falling and recovering
Petroleum stocks bucked the trend. As of press release, CNOOC (00883) rose 2.4% to HK$19.64; CNOOC (02883) rose 1.55% to HK$8.5; and CNPC (00857) rose 0.26% to HK$7.69.
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.
The commodity boom came to an abrupt end! Basic metals fell across the board, copper and nickel fell sharply, and crude oil fell three times in a row
The minutes of the Federal Reserve meeting show that the Federal Reserve may postpone interest rate cuts due to continued inflation, thus suppressing market expectations of interest rate cuts, and crude oil prices fell in response. Lun Copper closed down 4.05%, while Lunn Nickel fell 4.4%. Some analysts pointed out that the main reason for the decline in copper prices may be related to investors starting to make a profit settlement after copper prices hit a record high, recent weakness in copper demand, and a possible increase in copper production in Peru in 2024.
Changes in Hong Kong stocks | CNOOC Services (02883) fell more than 5%, leading the decline in petroleum stocks, the IEA previously lowered its 2024 oil demand growth forecast
Petroleum stocks declined today. As of press release, CNOOC (02883) fell 5.54% to HK$8.69; CNOOC (00883) fell 1.42% to HK$19.38; Sinopec (00386) fell 1.35% to HK$5.11; and CNPC (00857) fell 0.52% to HK$7.68.
China Petroleum (601857.SH): The scale of the company's new reserves in 2024 is expected to be higher than the level of 2023
Gelonghui, May 20 | CNPC (601857.SH) said on an interactive platform that the company has disclosed in its 2023 annual report that “the Group's oil and gas operating costs per unit in 2023 were 11.95 US dollars/barrel, down 3.8% from 12.42 US dollars/barrel in the same period last year.” The oil and gas exploration and development business is the foundation of the company's survival, the foundation of development, and the source of benefits. In recent years, oil and gas exploration and development have achieved remarkable results. In 2023, the company highlighted economic recoverable reserves, promoted efficient exploration, and achieved 6 major breakthroughs and 11 in key basins such as Ordos, Tarim, Sichuan, and Bohai Bay
Oil Prices Rise After Iran's President Dies, Saudi King Falls Ill
By Callum Keown Oil prices climbed Monday after Iran's President Ebrahim Raisi died in a helicopter crash Sunday, according to state-run Press TV. But the oil move was fairly muted in early trading. I
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