China Oil and Gas：More pain before gain

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The gloomy outlook for global economy growth and concern on risinginventory amid global supply glut would continue to weight on the shorttermoil prices.Meanwhile we believe that weighted average productioncost of US29/bbl for producing fields would provide a strong support for theshort-term oil prices.We now expect 2016E/17E oil price at US$45/55/bbland long-term oil price at US$75/bbl given higher oil price needed for thedevelopment of new discoveries in South America and Africa. 20160128-招商证券(香港)-China Oil and Gas：More pain before gain.pdf (1.61 MB)

2016-1-28 17:07:20 上传

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关键词：oil and gas Before China Gain HINA before China

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