bigninja
2021-11-01
Sniff petrol prices keep going up
Oil Erases Drop as OPEC+ May Spurn Biden’s Appeal on Production
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Speaking in Rome after a Group of 20 summit on Sunday, President Joe Biden criticized Saudi Arabia and Russia for their inadequate response to managing supply, while declining to say what he planned to do if producers don’t respond. Key time-spreads pointed to a tight global crude market.</p>\n<p>Crude has soared this year, with production trailing supply as the global economy recovered from the impact of the pandemic. An energy crunch marked by shortages of gas and coal has also stoked oil demand. Still, the Organization of Petroleum Exporting Countries and its allies have loosened supply curbs imposed last year at only a modest pace, making the case that risks remain.</p>\n<p>The tightness in the crude market is reflected in deeply backwardated pricing patterns, with traders willing to pay a premium for near-term supply. Brent’s prompt spread was $1.24 a barrel on Monday, up from 82 cents a week ago.</p>\n<p>OPEC+ is scheduled to gather virtually on Thursday, and may stick with a planned monthly increase of 400,000 barrels a day despite the escalating concerns from top consumers that lofty energy costs will fan inflation and act as a brake on the recovery. Angola and Iraq were the latest members of the alliance to affirm their support for the current conservative stance on output.</p>\n<p>Goldman Sachs Group Inc. estimates global demand topped supply by 2.5 million barrels a day last month, describing the deficit as “unresolved” in an Oct. 29 note. The bank stuck with a forecast that Brent will hit $90 a barrel.</p>\n<p>The increasingly blunt sparring over OPEC+ production came as world leaders pivot to a critical climate conference that’s meant to limit the use of fossil fuels. The G-20 summit in Rome produced only a tepid agreement, leaving it to negotiators at COP26 in Glasgow to try to achieve a breakthrough.</p>\n<p>Traders were also tracking the prospect of revived nuclear talks between Iran and world powers that in time may pave the way for that nation to resume oil exports. Tehran has signaled it will restart negotiations with Europe “toward the end of November,” U.S. Secretary of State Antony Blinken said on Sunday.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil Erases Drop as OPEC+ May Spurn Biden’s Appeal on Production</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil Erases Drop as OPEC+ May Spurn Biden’s Appeal on Production\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-01 10:50 GMT+8 <a href=https://finance.yahoo.com/news/oil-drops-start-key-week-231313201.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Oil erased an early decline as OPEC+ may resist mounting pressure this week to boost production at a faster clip, and traders looked beyond China’s release of fuel reserves to quell ...</p>\n\n<a href=\"https://finance.yahoo.com/news/oil-drops-start-key-week-231313201.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GS":"高盛","BAC":"美国银行","CM":"加拿大帝国商业银行"},"source_url":"https://finance.yahoo.com/news/oil-drops-start-key-week-231313201.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2180220349","content_text":"(Bloomberg) -- Oil erased an early decline as OPEC+ may resist mounting pressure this week to boost production at a faster clip, and traders looked beyond China’s release of fuel reserves to quell shortages.\nGlobal benchmark Brent was steady after recouping an initial loss of 0.8%. Speaking in Rome after a Group of 20 summit on Sunday, President Joe Biden criticized Saudi Arabia and Russia for their inadequate response to managing supply, while declining to say what he planned to do if producers don’t respond. Key time-spreads pointed to a tight global crude market.\nCrude has soared this year, with production trailing supply as the global economy recovered from the impact of the pandemic. An energy crunch marked by shortages of gas and coal has also stoked oil demand. Still, the Organization of Petroleum Exporting Countries and its allies have loosened supply curbs imposed last year at only a modest pace, making the case that risks remain.\nThe tightness in the crude market is reflected in deeply backwardated pricing patterns, with traders willing to pay a premium for near-term supply. Brent’s prompt spread was $1.24 a barrel on Monday, up from 82 cents a week ago.\nOPEC+ is scheduled to gather virtually on Thursday, and may stick with a planned monthly increase of 400,000 barrels a day despite the escalating concerns from top consumers that lofty energy costs will fan inflation and act as a brake on the recovery. Angola and Iraq were the latest members of the alliance to affirm their support for the current conservative stance on output.\nGoldman Sachs Group Inc. estimates global demand topped supply by 2.5 million barrels a day last month, describing the deficit as “unresolved” in an Oct. 29 note. The bank stuck with a forecast that Brent will hit $90 a barrel.\nThe increasingly blunt sparring over OPEC+ production came as world leaders pivot to a critical climate conference that’s meant to limit the use of fossil fuels. The G-20 summit in Rome produced only a tepid agreement, leaving it to negotiators at COP26 in Glasgow to try to achieve a breakthrough.\nTraders were also tracking the prospect of revived nuclear talks between Iran and world powers that in time may pave the way for that nation to resume oil exports. Tehran has signaled it will restart negotiations with Europe “toward the end of November,” U.S. Secretary of State Antony Blinken said on Sunday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":352,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":28,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/849141478"}
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