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CNOOC To Strive to Keep Low Barrel Oil Cost, 24E Int'l Oil Price to Keep US$80+
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CNOOC (00883.HK) CFO Wang Xin said the main barrel oil cost decreased in the first quarter of this year, mainly contributed by exchange rate depreciation and the company's relatively low operating workload in the first quarter of each year. She conceded that the trend of barrel oil cost this year is unpredictable, but reiterated that the company will continue to adhere to its strategy of "cost reduction and efficiency enhancement" and endeavor to maintain the barrel oil cost at a lower level than that of its peers through technological innovation. Wang also believed that international oil prices will continue to be influenced by macroeconomic and geopolitical factors. The earlier announcement by the OPEC and its oil-producing allies, OPEC+, to extend the additional voluntary production cut of 2.2 million barrels per day (bpd) to the second quarter of this year has had a certain impact on oil prices. Citing mainstream market forecasts, the CFO said that international oil prices were expected to remain atop US$80 this year. AAStocks Financial News |
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