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CNOOC Craters 4.2% as G Sachs Expects Venezuela's Oil Output to Rise in LT
Recommend 4 Positive 8 Negative 8 |
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CNOOC (00883.HK) opened 2.65% lower today, and bottomed at $20.84. It last printed at $20.94, down 4.21%, with 96.6973 million shares traded, involving $2.036 billion. The Company announced earlier that its Buzios 6 project in Brazil has commenced safe production. Goldman Sachs released a report saying that, following the US takeover of Venezuela, Venezuela's oil output this year will depend on US sanctions policy, and believing that the situation in Venezuela poses uncertain but moderate risks to oil prices in the short term. The broker also maintained its 2026 oil price forecasts unchanged. Goldman Sachs also believed that Venezuela's oil production may increase in the long term, adding downside risks to oil price forecasts for 2027 and beyond. If Venezuela's crude oil output increases to 2 million barrels per day by 2030, oil prices will drop by US$4 at that time. AAStocks Financial News Website: www.aastocks.com |
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