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发表于 2015-9-11 09:37
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. m( i& v: P2 k \# \9 j' j# z/ RBy Barani Krishnan+ _, H( s1 ~" |( Z. L# W) ?
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NEW YORK (Reuters) - Crude futures fell on Friday after Wall Street's most influential voice in oil trading, Goldman Sachs, slashed its price outlook through next year, citing oversupply and concerns about China's economy./ l" c/ B% t2 i6 q
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Joining Germany's Commerzbank and a long list of other banks in cutting price projections, Goldman lowered its 2016 forecast for U.S. crude to $45 a barrel from $57 previously, and Brent to $49.50 from $62." c z" D7 r! m3 N
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"The oil market is even more oversupplied than we had expected and we forecast this surplus to persist in 2016," Goldman said in a note entitled "Lower for even longer".
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7 k4 ~% g' Q; e5 dCiting "operational stress" as a growing downside risk to its forecast, Goldman said crude could fall further to near $20 a barrel. "While not our base case, the potential for oil prices to fall to such levels ... is becoming greater as
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8 O1 A: N8 O2 D* oU.S. crude futures' front-month contract <CLc1> was down $1, or 2.2 percent, at $44.92 a barrel by 11:54 a.m. EDT., ` d, U$ _) b7 p
: o7 D V% s5 g" `* y) mThe front-month in Brent <LCOc1>, the global benchmark for oil, was off 70 cents, or 1.3 percent, at $48.19.
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6 }" k: x( T& |: e! n# CBoth crude benchmarks had fallen about 3 percent, before paring loses with stocks on Wall Street. The U.S. stocks have provided direction to oil over the last two weeks as investors grappled with mixed fundamentals for crude.
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! d& p' Q ] f+ d6 d4 TThe oil market is waiting next for a weekly reading of the U.S. oil rig count, due at 1:00 p.m. ET. The data will show for whether oil producers were cutting back on drilling as prices head lower again after a brief rebound in the second quarter.
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Crude prices have more than halved over the past year, with Brent tumbling from nearly $120 a barrel in the middle of 2014 to below $43 last month. Prices collapsed as a global glut of crude pushed commercial and government inventories to all-time highs.
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) B; S" R6 y( w# I2 E8 YAnalysts say the market is rebalancing, but high stocks will keep weighing on prices into next year.+ a% @# j# a, r' @# t
( K+ B2 o+ I$ N* w* U$ FGermany's Commerzbank said Brent was likely to trade at $55 by the end of 2015, and around $65 by end-2016.0 ^! v, l, k. m6 d0 X9 s) A9 S6 P
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Investors shrugged off a report from the Paris-based International Energy Agency, which advises the world's biggest economies on energy policy. The IEA said a move by the world's big oil exporters in OPEC, led by Saudi Arabia, to defend their market share by not reducing production, appeared to be working.
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(Additional reporting by Lisa Barrington and Christopher Johnson in London and Meeyoung Cho in Seoul; Editing by Nick Zieminski and David Gregorio) |
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