 鲜花( 88)  鸡蛋( 0)
|

楼主 |
发表于 2015-9-11 09:37
|
显示全部楼层
; U6 A+ R) j1 ~By Barani Krishnan
1 Q/ k# [2 y5 k9 t
4 Q+ E9 @- m8 f; i* u' _9 O" e% N4 q' ENEW 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.
% w e% C- c+ `. ], z6 w4 W+ H' d5 C" h* [% {
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.
4 s* h: X- ?- Q9 v; u( z+ W- p( I; H; |/ R0 W C
"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".; w) }" M. q# d# o
e* V+ z- o9 \' e" U: oCiting "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 as5 E3 J* k% K& L7 J) t
9 F9 k# F" E; [ A) {
storage continues to fill.": u) `0 o5 P8 ]) u, w6 K
8 _9 `, U" V( X, _. NU.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.
$ e( j! O2 z. J4 q* S# d+ i
3 w. ~5 u3 n$ p1 X) i) qThe front-month in Brent <LCOc1>, the global benchmark for oil, was off 70 cents, or 1.3 percent, at $48.19.& b, I9 v1 q$ e
9 \+ [/ H$ H5 ~' N% g- `Both 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.
* E- U6 T2 Q! `# @5 y: V6 A: r3 o- X, K& Q: k$ Y3 V
The 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.6 Y8 [. h0 L: O
, p6 {, F1 C3 G: m1 B# |$ e* h2 {! c. {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.
2 Y' f/ G" V6 Y! C0 h1 J ?. i: V& X: v, G( l9 P
Analysts say the market is rebalancing, but high stocks will keep weighing on prices into next year.3 H8 w u* `: T( V/ s0 C3 j
, D0 ^9 t4 S! _+ l9 e
Germany's Commerzbank said Brent was likely to trade at $55 by the end of 2015, and around $65 by end-2016.
! K, L2 S! W C" Y' q1 n) L* ~* p
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.* C: e# q5 d p% I) M% [& k5 r
( d f& m2 i5 R% l/ i; H
(Additional reporting by Lisa Barrington and Christopher Johnson in London and Meeyoung Cho in Seoul; Editing by Nick Zieminski and David Gregorio) |
|