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Saudi Aramco CEO: oil prices will rebound in the first half of 2017

Saudi Aramco CEO: oil prices will rebound in the first half of 2017

November 2, 2016

[China paint information]

Saudi Aramco CEO Amin Nasser said on Tuesday (November 1) that oil prices are expected to rebound in the first half of 2017 to provide customers with technical support and solutions for TPE products, At that time, the supply and demand of crude oil market will return to balance

nasser said that sensitivity is therefore very important to him. "At present, the gap between supply and demand is narrowing, and we now expect the market to balance in the second half of 2017, when oil prices will also adjust upward."

in addition, he also mentioned that Saudi Aramco's initial public offering (IPO) of more than $2trillion is being actively prepared and is progressing well

as the crude oil production of the organization of Petroleum Exporting Countries (OPEC) hit a new high in October, and the market was full of doubts about the OPEC's agreement to limit production this month, the oil price fell by nearly 7% in the past three trading days

at the beginning of Asian trading on Wednesday (November 2), Brent crude oil futures fell 0.40% to $47.94 a barrel; In the U.S. crude oil period, due to the close connection between China's extruder products and strategic new industries, WTI fell 0.6% to $46.40 a barrel

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