欧博开户网址www.allbet8.vip),欧博网址开放会员注册、代理开户、电脑客户端下载、苹果安卓下载等业务。

LONDON: Saudi Arabian Energy Minister prince Abdulaziz bin Salman says “extreme” volatility and lack of liquidity mean the futures market is increasingly disconnected from fundamentals and Opec+ may be forced to cut production.

“The paper and physical markets have become increasingly more disconnected,” he said in response to written questions from Bloomberg News.

Prince Abdulaziz represents the largest oil producer in Opec+ and is arguably the most important player in the 23-nation alliance.

He said futures prices don’t reflect the underlying fundamentals of supply and demand, which may require the group to tighten production when it meets next month to consider output targets.

“Witnessing this recent harmful volatility disturb the basic functions of the market and undermine the stability of oil markets will only strengthen our resolve,” he said.

Benchmark crude oil futures have fallen more than 20% since early June on concern about the outlook for the global economy and the possibility of more Iranian oil coming onto the market.

Brent futures pared losses after the prince’s comments to trade near US$96 (RM431) a barrel, having earlier sunk to almost US$92 (RM413).

,

足彩投注比例www.99cx.vip)是一个开放皇冠体育网址代理APP下载、皇冠体育网址会员APP下载、皇冠体育网址线路APP下载、皇冠体育网址登录APP下载的官方平台。足彩投注比例上足球分析专家数据更新最快。足彩投注比例开放皇冠官方会员注册、皇冠官方代理开户等业务。

,

Still, open interest and trading volumes remain well below historical levels as the price swings caused by the war in Ukraine scare investors away. The lack of trading is making the market more volatile as the pool of active buyers and sellers shrinks, according to some market participants.

Saudi Arabia and the rest of the Opec+ group have steadily increased production this year, reversing all of the cuts made during the coronavirus pandemic as demand recovered and Russian supply dropped.

Below is a transcript of Prince Abdulaziz’s responses to written questions:

Are you concerned about the current state of the market?The paper oil market has fallen into a self-perpetuating vicious circle of very thin liquidity and extreme volatility undermining the market’s essential function of efficient price discovery, and have made the cost of hedging and managing risks for physical users prohibitive.

This has a negative impact on the smooth and efficient operation of oil markets, energy commodities and other commodities creating new types of risks and insecurities.

This vicious circle is amplified by the flow of unsubstantiated stories about demand destruction, recurring news about the return of large volumes of supply, and ambiguity and uncertainty about the potential impacts of price caps, embargoes, and sanctions.

In your view, how is the current volatility impacting the functioning of markets?This is detrimental because without sufficient liquidity, markets can’t reflect the realities of the physical fundamentals in a meaningful way and can give a false sense of security at times when spare capacity is severely limited and the risk of severe disruptions remains high.

Allbet Gaming声明:该文看法仅代表作者自己,与本平台无关。转载请注明:足彩投注比例(www.99cx.vip):Saudi prince says oil’s disconnect may force Opec+ action
发布评论

分享到:

Healthy M&A trend seen in South-East Asia
你是第一个吃螃蟹的人
发表评论

◎欢迎参与讨论,请在这里发表您的看法、交流您的观点。