 鲜花( 88)  鸡蛋( 0)
|

楼主 |
发表于 2015-9-11 09:37
|
显示全部楼层
J- R" x+ v3 T* }7 ?By Barani Krishnan- ?1 E( ?3 S( q4 u0 h* M0 k% N
# H. @- w3 t8 J2 ]. _! qNEW 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.
1 u1 I0 j0 J; T N! R" I
8 r7 b4 \5 I! I. N! M; v' uJoining 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 $62.( ]0 Y0 H5 O8 o# o4 j
: e$ W& p: B- g' g' c* _* l"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".5 E) b p( X- ~) K
0 t/ n/ `7 o) p/ k
Citing "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
7 L* @- O: }4 J* f+ ~: h5 J* n, ]; r% [
storage continues to fill."
/ H% |- ]- y, N9 ` H
* T, Z' H/ B+ E( G6 T. l& z. rU.S. crude futures' front-month contract <CLc1> was down $1, or 2.2 percent, at $44.92 a barrel by 11:54 a.m. EDT.
& W* e8 C, E4 f$ S1 k, C/ A5 O2 s) X9 Q L- i
The front-month in Brent <LCOc1>, the global benchmark for oil, was off 70 cents, or 1.3 percent, at $48.19.9 K8 X( C0 a; M4 j! T3 @ ~$ _
5 c: M6 w% k$ o3 ]) @5 E, i
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.
- k/ I3 g# ?, ?% s) ^) I3 \5 W. M! z9 n0 c4 `7 [
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.% x/ S$ H! c5 Q
7 @% ?' y* V- x1 }$ E y
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 $43 last month. Prices collapsed as a global glut of crude pushed commercial and government inventories to all-time highs.
+ V# s. r, G) l/ q$ }; ~9 Y
' s& k8 s& s6 i- s2 k8 x- oAnalysts say the market is rebalancing, but high stocks will keep weighing on prices into next year." A6 ?+ s% u' _7 g
6 r' T* T4 a/ h+ v4 K* S( o* F- z4 {Germany's Commerzbank said Brent was likely to trade at $55 by the end of 2015, and around $65 by end-2016.% W8 U9 C; }5 C- K
) R' r3 K+ t' F8 s& E8 D( _* j# b
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.6 l0 R# |2 \3 A0 ~& ?
8 ], S+ S& w a; x- T( Z(Additional reporting by Lisa Barrington and Christopher Johnson in London and Meeyoung Cho in Seoul; Editing by Nick Zieminski and David Gregorio) |
|