Goldman Sachs predicts oil producing countries may increase production in the second half of the yea-solid converter

Goldman Sachs predicts the second half may yield producers – Sohu securities reporter Zhang Zhenhe Goldman in 17 released the report pointed out that one day before Saudi Arabia, Russia, Qatar and Venezuela agreed to join in other oil producers under the condition of crude oil production will freeze at the level of January. This is not enough to make oil prices bottoming out. The production freeze agreement may be short-term, and once the inventory stops rising, it is likely that the oil producers will begin to expand production in the second half of this year. The report points out that the market is disappointing for the first time in 15 years that OPEC and non OPEC countries have reached a coordinated production limit because they have only frozen output rather than reduced output. According to the January output data of the International Energy Agency, the agreement froze production at the level of January, which means OPEC and Russia output will remain at 43 million 100 thousand barrels per day. Goldman Sachs believes that the uncertainty of output makes the implementation of the output freeze agreement very difficult, the premise of oil price rebound must be the decline in inventory levels. This agreement is not enough to set the bottom line for oil prices, because oil prices will only stabilise when inventories stop rising, and this will not happen in the second half of the year, according to current production plans.

高盛预测产油国下半年可能增产-搜狐证券   本报记者 张枕河  高盛在17日发布的报告中指出,前一日沙特、俄罗斯、卡塔尔以及委内瑞拉同意在其他产油国也加入的情况下,将原油产量冻结在1月份的水平。此举并不足以让油价见底。产量冻结协议可能是短期的,一旦库存停止上升,今年下半年各产油国开始扩大产量的可能性很高。  报告指出,由于只是冻结产量而非减产,市场对欧佩克与非欧佩克国家15年来首次达成的协同限产决定感到失望。根据国际能源署1月份的产出数据,协议将产量冻结在1月份的水平,意味着欧佩克和俄罗斯产出将维持在每日4310万桶。  高盛认为,产出水平的不确定性使得产量冻结协议执行起来非常困难,油价反弹的前提必须是库存水平下降。此份协议不足以给油价设定底线,因为油价只会在库存停止上升的时候企稳,而按照当前的产出计划,这要到下半年才会发生。相关的主题文章: