Oil Prices Set To Rebound

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Примеры готовых предложений с prices set to rebound из вдохновляющих источников на английском языке

First, since American homes now look cheap, are prices set to rebound ?

Now, it seems, those same areas are set to rebound especially strongly this year.

Now these stocks are set to rebound when their growth kicks in.

Speaking as oil hit a near six-month low, Bob Dudley cautioned that the price looked set to remain around its recent depressed level for the foreseeable future – although he would not be drawn on when he thought it would rebound.

In such an environment, the best the cartel can hope for is to set the stage for oil prices to rebound once the global economy recovers.

Indeed, after falling for nine months, housing prices began to rebound in major cities in June.

If prices were to rebound too soon, it would breathe life into the near-bankrupt marginal shale producers”.

“When oil prices start to rebound , those who made smart Saskatchewan acquisitions will be well ahead of the game”.

Stocks rose for a second day as a rebound in oil prices set off a late-day rally in energy shares, and a better-than-forecast report on durable goods orders lifted industrial companies.

Oil Prices set to dip As Libyan Production Rebounds

Oil prices are heading lower as we jump into the fifth month of the year, amid concerns from a mixed bag of global economic data and increasing exports from Libya. Crude continues to hunt for signs of material market tightening, hark, here are five things to consider in oil markets today.

1) The chart below shows that U.S. imports of Middle East crude have continued to hold strong in recent months, despite the OPEC production cut deal. Total waterborne imports are up 3 percent through April versus year-ago levels, while imports from the Middle East are up 23 percent.

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While Saudi Arabia continues to supply the majority of the barrels, Iraqi flows have doubled in each of the last two years, at a current pace just under 600,000 barrels per day through the first four months of the year.

2) The year-on-year surplus for total U.S. oil and product inventories peaked in November 2020 at nearly 190 million barrels, before gradually being whittled lower ever since. We fell to a YoY deficit for the first time since mid-2020 for the week ending April 14, before last week’s inventory report lifted us to a surplus once more.

Total U.S. oil and product inventories (ex-SPR) reached a record in August of last year at 1.374 billion barrels. Since the start of the year, however, we have added nearly 16 million barrels, to sit currently at 1.338 billion barrels.

U.S. oil and product inventories account for approximately 45 percent of total OECD inventories. This explains why there is such a surgical focus on U.S. inventory levels. Not only are U.S. inventories the most transparent in the OECD, they are also the biggest chunk of them. That is why the market will likely remain skeptical of market tightening unless it continues its ongoing trend of depletion.

3) With higher year-on-year oil prices, PetroChina reported a profit in Q1, while CNPC has seen net income more than double for the same period. Nonetheless, China’s leading oil companies continue to see domestic oil production declining.

Although PetroChina, CNPC and Cnooc are raising capex for the first time in four years, domestic oil production is unlikely to rebound until 2020 or 2020, as the companies shift their focus towards natural gas. Total Chinese oil production fell 6.8 percent in Q1, while natural gas rose by 3.4 percent — reaching a record in March.

4) We’ve discussed fossil fuel subsidies here a number of times, with the drop in oil prices over the last few years encouraging producers to unwind burdensome subsidies which have traditionally encouraged consumers to waste more energy.

Fossil fuel subsidies dropped to $320 billion in 2020, after peaking above $500 in 2020. Crude oil accounts for 45 percent of subsidies (

$140 bln), while electricity accounts for just over 30 percent (

$100 bln). Fossil fuel subsidies still dwarf renewable subsidies, which reached $150 billion in 2020, although the two are slowly converging.

5) Finally, there is always a bull market somewhere. Today’s comes courtesy of avocados, amid surging demand and a smaller crop. Due to these two bullish factors, prices are more than double what they were a year earlier, and the highest since records began (some 19 years ago).

Oil Prices Fall, but Rebound After Inventories Numbers

Investing.com – Oil pared losses midday Wednesday following an unexpected rise in U.S. crude inventories . But it was still in the red amid a host of geopolitical uncertainties.

Crude oil WTI Futures fell 2% to $56.12 at 12:22 PM ET (16:22 GMT).

Brent futures , the benchmark for global crude, fell 2.1% to $61.78.

U.S. oil stockpiles rose by 2.4 million barrels last week, the Energy Information Administration reported.

Analysts were predicting a crude drawdown of 249,000 barrels, according to Investing.com.

“This could be the clearest signal that the post-summer crude draws are over and that we could see substantial builds here on, which is hardly ideal for oil bulls,” Investing.com analyst Barani Krishnan said. “As of now, WTI is just about $1 higher than where it stood on Sept 13, the eve of the Saudi attack. In less than two weeks, we have given back all that huge geopolitical premium we saw from the Saudi crisis.”

Helpful to bulls were refinery levels falling below the key 90% level, likely a function of Texas flooding, builds in the Cushing pipeline and a big slide in imports, Krishnan added.

Gasoline inventories rose by 519,000 barrels, compared with a consensus for a rise of 296,000 barrels. Distillate stocks tumbled by nearly 3 million barrels, while analysts were looking for a drawdown of 733,000 barrels.

The distillate draw was the “most sparkling” number on the bullish slide, Krishnan added.

“Offsetting these positives is U.S. production, which remains near record highs at 12.4 million bpd, while exports are steady at just under 3 million bpd and not ramping further,” he said.

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