empty
31.10.2022 11:39 PM
Oil falls in price due to bad news from China

This image is no longer relevant

Data on the economic situation in China reduces the appeal of oil, and the cost of raw materials falls on Monday.

December futures for Brent on London's ICE Futures exchange fell 1.16% to $92.69 per barrel.

Quotes of WTI futures for December in electronic trading on the New York Mercantile Exchange fell by 1.72% to $86.41 per barrel.

According to published statistics, the Purchasing Managers' Index (PMI) in China's manufacturing industry in October fell to the lowest level since July - to 49.2 points (in September this figure was at the level of 50.1).

Experts on average expected a decline, but not as sharp. PMI services in China in October fell to 48.7 points, indicating a significant decline in activity in this sector.

Tight quarantine measures in China threaten the demand for fuel. And today it became known that from October 26 to October 30, quarantine was again introduced in the city of Wuhan. And all because of the fact that new cases of coronavirus infection were identified in the city.

As for the operating oil and gas drilling rigs in the USA, following the results of the last week (October 22-28), their number decreased by 3 units - up to 768 units.

But at the same time, in October their number increased for the first time since July. Drilling activity remained stable, although there were relatively high energy prices and a sharp decrease in profits. This was reported on Friday by the oilfield service company Baker Hughes.

Despite the decrease following the results of the reporting week, in general, in October the number of operating oil and gas drilling rigs turned out to be 224 units, or 41%, higher than last year.

And yet, the market ends the month up nearly 10%, largely thanks to OPEC+'s decision to cut production by 2 million bpd from November.

OPEC's annual World Oil Outlook (WOO) report says that oil will retain the largest share of the global energy mix until at least 2045. In other words, oil will remain the number one fuel in the world energy balance, the share will decrease from 31% to just under 29%. The total share of oil and gas is expected to remain above 50%.

At the same time, OPEC increased oil demand in its forecast by 1.6 million barrels per day. Demand is expected to increase to 109.8 million barrels per day in 2045. But the organization still expects oil demand to virtually stop growing after 2035.

Andreeva Natalya,
Experto analítico de InstaForex
© 2007-2025
Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Cuando los mercados están agitados: el gas sube, el petróleo duda

La sesión de negociación en EE. UU. del martes trajo noticias interesantes para los participantes del mercado: los futuros de gas natural subieron repentinamente, mientras que el petróleo decidió tomarse

Natalia Andreeva 11:14 2025-03-19 UTC+2

El oro bate récords: $3.000 no es el límite

El metal amarillo comenzó la nueva semana con un tono positivo y hasta ahora mantiene ese ritmo. En este momento, el oro se cotiza ligeramente por encima del nivel redondo

Larisa Kolesnikova 07:30 2025-03-19 UTC+2

Mercados en pánico: Nasdaq se desploma un 1,71%, mientras el oro alcanza máximos históricos

Nvidia cae en medio del inicio de la conferencia anual de desarrolladores de software Tesla se desploma después de que RBC redujera su precio objetivo El oro alcanza un máximo

06:58 2025-03-19 UTC+2

¿Volverá el Bitcoin a los $90.000? Las esperanzas «alcistas» de la primera criptomoneda

El Bitcoin lucha actualmente por un lugar bajo el sol, defendiendo su estatus de primera criptomoneda. Actualmente, el activo estrella no pasa por su mejor momento, aunque muchos expertos

Larisa Kolesnikova 13:06 2025-03-10 UTC+2

Señales inquietantes: la mayor caída de precios en China y el Bitcoin se hundió hasta los $80 mil

Los futuros de Wall Street caen después de que Trump se negara a descartar riesgos de recesión Los precios de consumo chinos caen a un ritmo más rápido

07:29 2025-03-10 UTC+2

Estancamiento o crisis: Tesla cae, Nikkei marca un récord negativo, Dow y Nasdaq pierden posiciones

Tesla cae tras una opinión bajista de un bróker, según un informe. Kroger sube gracias a un optimista pronóstico anual de ventas. El índice japonés Nikkei cayó a su mínimo

11:36 2025-03-07 UTC+2

Trump vuelve a impulsar el crecimiento del BTC

El vertiginoso repunte de Bitcoin a principios de esta semana se debe a las declaraciones del presidente de EE. UU., Donald Trump, sobre la creación de una reserva de criptomonedas

Larisa Kolesnikova 07:32 2025-03-04 UTC+2

Bitcoin sin apuros: ¿Récords por delante?

Según observaciones de los analistas, actualmente Bitcoin se encuentra en un estado relativamente estable, pero no se apresura a actualizar sus máximos. En este contexto, los participantes del mercado muestran

Larisa Kolesnikova 08:36 2025-02-24 UTC+2

El sector tecnológico tambalea: el crecimiento de Analog Devices no salva la caída de Nikola

Nikola cae tras la solicitud de protección por quiebra. Analog Devices sube después de que los resultados del primer trimestre superaran las previsiones

12:05 2025-02-20 UTC+2

Gas, petróleo y sanciones: ¿quién es quién?

Sesión estadounidense: el gas sube, pero el petróleo no se queda atrás. Operadores, preparen las palomitas. Los futuros del gas natural subieron con fuerza el martes en la Bolsa Mercantil

Natalia Andreeva 11:24 2025-02-19 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.