20-12-2017

OPEC agreed earlier to extend the oil cut deal to end of 2018, and would consider in June next year whether a further adjustment is needed. On the other hand, exempted countries including Libya and Nigeria have informed OPEC that the two countries targeted not to increase oil production next year. From the demand side, China announced earlier crude oil imports in November rose to 37.04 million tons, equivalent to 901 million barrels per day, which was the second-highest in history. As China’s economy keep improving, it is expected that crude oil imports will continue to grow in the coming years, which serves as the catalyst of crude oil price. It is expected that oil-related stocks will continue to benefit from rising oil price, recommend investors to acquire for mid-long term investment.

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