 鲜花( 88)  鸡蛋( 0)
|

楼主 |
发表于 2015-9-11 09:37
|
显示全部楼层
( J4 N# A0 ^( l8 I$ |By Barani Krishnan
2 u$ y5 z6 W9 Z; S9 o2 s* U q0 s3 [3 ^+ ^( p
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.
$ P6 y, T$ W/ b- D3 y9 {& T
$ h f `) z" _* DJoining 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 $62.
7 m6 E8 H! T2 v9 }7 Z
2 j( }2 s3 J3 Y"The oil market is even more oversupplied than we had expected and we forecast this surplus to persist in 2016," Goldman said in a note entitled "Lower for even longer".6 V$ D9 y$ V, w0 V
% k2 C& m7 h. D8 F) h2 P* HCiting "operational stress" as a growing downside risk to its forecast, Goldman said crude could fall further to near $20 a barrel. "While not our base case, the potential for oil prices to fall to such levels ... is becoming greater as" d$ ^: `0 [, J' e$ }" n; @
' l5 I/ ~- K; v% ^7 e% {: Z
storage continues to fill."
: l- A7 D' L- `" L( y. [& B; K( X( s3 G9 W" h; m
U.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.
7 M1 n/ [6 n+ Q7 y( X# j1 `" ~& c6 K. S( t7 \; q0 e! v' D/ z7 T7 s
The front-month in Brent <LCOc1>, the global benchmark for oil, was off 70 cents, or 1.3 percent, at $48.19.0 P! i3 a# X5 W! z
0 z* m0 H( ^* j- S7 g
Both crude benchmarks had fallen about 3 percent, before paring loses with stocks on Wall Street. The U.S. stocks have provided direction to oil over the last two weeks as investors grappled with mixed fundamentals for crude.
& S G6 w3 A1 ?' S* u+ |
9 Z/ p' I5 w0 B$ yThe 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.- W2 \. Z3 h. ]/ g* _! q- w
9 B2 u+ P, a. v9 {- p
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 $43 last month. Prices collapsed as a global glut of crude pushed commercial and government inventories to all-time highs.% v+ b- `/ R+ Y$ p& Z$ S
' ~4 a! r% c4 e8 G$ a! I4 CAnalysts say the market is rebalancing, but high stocks will keep weighing on prices into next year.' ] E/ N* N$ x
) W& z8 r: }# v( ]- O' ?; T
Germany's Commerzbank said Brent was likely to trade at $55 by the end of 2015, and around $65 by end-2016.& _$ u- f$ B" i' P6 D& @
) z' s3 ?. p1 a$ Z& W6 j$ r& k
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.8 h$ [( z, }" o$ s/ r/ b
, o4 D% [ o# Y3 d8 X/ T2 U(Additional reporting by Lisa Barrington and Christopher Johnson in London and Meeyoung Cho in Seoul; Editing by Nick Zieminski and David Gregorio) |
|