• <strike id="q0iu2"></strike>
  • The Annual Shale Gas Technology & Equipment Event
    logo

    The 15thBeijing International Shale Gas Technology and Equipment Exhibition

    ufi

    BEIJING,CHINA

    March 26-28,2025

    LOCATION :Home> News > Industry News

    Oil tests $40 as OPEC’s extra barrels loom on the horizon

    Pubdate:2020-08-04 10:42 Source:liyanping Click:

    SINGAPORE (Bloomberg) --Oil edged below $40 a barrel as OPEC+ producers started supplying more crude to a global market where many countries are still struggling to contain the coronavirus.

    The Organization of Petroleum Exporting Countries and its allies will pump about 1.5 million barrels a day more this month than in July as it starts to unwind its historic virus-driven output curbs, with Russia already having lifted its output sightly last month. At the same time, diesel sales in India were down 21% on the previous year in July, a sign of the stuttering demand recovery in one of the world’s largest consumers.

    Oil has been stuck in a narrow band since June, with rising coronavirus infections raising concerns about a renewed hit to demand. It’s a precarious time for producers to be adding more supply to the market, with Royal Dutch Shell Plc and Exxon Mobil Corp. predicting there may not be a full demand recovery until next year.

    “As OPEC+ begins to raise its production, the economic outlook is still uncertain and largely tied to the evolution of the Covid-19 virus,” said Harry Tchilinguirian, head of commodity markets strategy at BNP Paribas SA. “Concerns appear to be developing that a rise in OPEC+ production will coincide with an uneven recovery in oil demand.”

    Prices:

    West Texas Intermediate for September delivery fell 1.2% to $39.78 a barrel as of 10:32 a.m. London time

    Brent for October settlement slipped 0.9% to $43.11 a barrel

    The increase in supply comes as virus cases accelerated in California, a lockdown is being reimposed in Manila, and Australia’s second-biggest city instituted a curfew to stem the spread. In the U.S., Marathon Petroleum Corp., the largest American independent oil refiner said it won’t restart two refineries in California and New Mexico amid concerns demand for fuels is unlikely to hit pre-pandemic levels this year.

    Meanwhile, tensions between Washington and Beijing continued to simmer, with U.S. Secretary of State Michael Pompeo flagging measures against “a broad array” of Chinese-owned software deemed to pose national-security risks.

    Other oil-market news:

    Wall Street expected Exxon Mobil Corp. and Chevron Corp. earnings to be bad, but not this bad. America’s biggest energy companies delivered their worst set of quarterly results of the modern era.

    Seven & i Holdings Co. agreed to buy Marathon Petroleum Corp.’s Speedway gas stations for $21 billion, betting that an expanded U.S. footprint will deliver growth amid the uncertainty of the pandemic.

    Tropical Storm Isaias strengthened slightly as it moved past Florida’s coast and it could become a hurricane again as it nears the Carolinas. It will then push over the mid-Atlantic into New York and New England.

    亚洲精品日韩一区二区小说| 亚洲综合无码精品一区二区三区| 国产人成精品香港三级古代| 国产精品自在线拍国产| 最新日韩精品中文字幕| 国内精品一区二区三区在线观看| 亚洲日韩国产精品无码av| 久久精品中文字幕首页| 久久人人超碰精品CAOPOREN| 九九精品国产亚洲AV日韩| 国产精品无码av片在线观看播| 久久久久久午夜精品| 91www永久在线精品果冻传媒| 久久精品成人免费看| 99久久精品费精品国产一区二区 | 亚洲AV无码AV日韩AV网站| 真实国产精品视频国产网| 2017国产精品自拍| 3d动漫精品啪啪一区二区中文| 久久久久久国产精品免费免费男同| 国产成人精品午夜二三区波多野 | 久久五月精品中文字幕 | 成人精品视频一区二区三区不卡| 亚洲精品乱码久久久久久不卡| 日韩精品视频免费在线观看| 亚洲日韩VA无码中文字幕| 国产精品先锋资源站先锋影院| 精品国产日韩亚洲一区在线| 精品国产粉嫩内射白浆内射双马尾 | 91精品全国免费观看含羞草| 久久夜色精品国产噜噜| 亚洲av无码国产精品色午夜字幕 | 麻豆亚洲AV成人无码久久精品| 久久这里都是精品| 国产精品久久毛片完整版| 亚洲精品午夜久久久伊人| 久久精品国产亚洲AV香蕉| 久久亚洲国产成人精品性色| 先锋影音国产精品| 99热这里只/这里有精品| 狼色精品人妻在线视频|