Sinopec's Q1 revenue decreased by 6.9% year-on-year, while net profit attributable to shareholders plummeted by 27.6% | Earnings Reports Insights.

Under the dual pressure of falling international oil prices and weak downstream demand, the profitability of the group's refining Sector has significantly narrowed, and the chemical Sector recorded a loss of 1.321 billion yuan in Q1. Exploration and development remain Sinopec's "ballast", achieving an EBITDA of 13.631 billion yuan, but this profit has also declined compared to the past few quarters.

wallstreetcnApr 28 08:08 ET

Vakhshouri: OPEC+ Is More a Risk Management Alliance

Moomoo NewsApr 17 01:10 ET

Can Saudi Arabia withstand the plummeting oil prices? Goldman Sachs predicts that the fiscal deficit may soar to 75 billion dollars.

The significant drop in oil prices may put the oil-rich country of Saudi Arabia at risk of a serious fiscal deficit. The International Monetary Fund estimates that Saudi Arabia needs a crude oil price of $90 per barrel to achieve fiscal balance, while Goldman Sachs recently warned that if oil prices remain at the current low level of around $62 per barrel, the fiscal deficit in Saudi Arabia could double to $75 billion.

wallstreetcnApr 10 09:21 ET

The increasing expectation of recession has led to USA Crude Oil Product prices falling below 60 dollars, causing a setback in the rebound of Petroleum stocks in the Hong Kong stock market, resulting in a collective decline.

① Expectations of a recession heighten as USA Crude Oil Product prices fall below $60, how does the market view this? ② The rebound of Hong Kong Petroleum stocks is hindered and collectively declines, what is the indicative significance for the market?

cls.cnApr 9 03:43 ET

"The 'Black Waterfall' has just begun? The oil market's volume has broken the pandemic record, and Goldman Sachs has shockingly revealed the '40 dollar doomsday scenario.'

① After experiencing a series of epic "volume" crashes in international oil prices for several consecutive days, Goldman Sachs lowered its oil price forecast for the second time in just one week on Monday; ② The latest statement from the Institutions indicated that with the intensification of the trade war and an increase in supply, under "extreme" circumstances, the price of Brent Crude Oil Product could fall below $40 per barrel.

cls.cnApr 8 04:14 ET

Trump wants oil prices to fall below $50. Is the market ready for this?

Currently, oil prices have fallen below the level required to maintain healthy investment in the US Shale Oil Industry. If low oil prices persist, US oil production "will immediately begin to decline, and the extent may be quite large." Industry executives warn that it is impossible to achieve US Energy dominance while maintaining an oil price of $50 per barrel.

wallstreetcnApr 7 06:21 ET