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On March 17, Aimi Vaccine (06660.HK) announced on the Hong Kong Stock Exchange in the morning of March 17 that it expects a significant reduction in losses. It is expected to record unaudited revenue of between 1.25 billion and 1.3 billion during the reporting period, an increase of 60 million to 110 million from the previous years revenue of 1.19 billion, an increase of 5% to 9%, and an unaudited net loss of between 250 million and 290 million yuan, a significant reduction of 1.66 billion to 1.7 billion from the previous years net loss of 1.95 billion yuan, a reduction of 85% to 87%. The board of directors initially believes that the increase in revenue is mainly due to the increase in the companys hepatitis B vaccine revenue, and the reduction in comprehensive net losses is mainly due to the reduction in the amount of large asset impairment losses and the increase in revenue this year.The main fuel oil contract expanded its intraday increase to 2.00% and is now trading at 3168.00 yuan/ton.On March 17, according to a poll conducted by Japans Asahi Shimbun, public support for Prime Minister Shigeru Ishibas government fell to a historic low after he distributed gift certificates to some ruling party lawmakers. The poll conducted from March 15 to 16 showed that Ishibas approval rating fell 14 percentage points from the previous survey conducted in February to 26%, the lowest approval rating since Ishiba took office in October last year.Futures March 17 news, crude oil trend upward, but gasoline and diesel shipments are poor, fuel oil news is mixed, the fuel oil market support is limited. Downstream procurement operations are dominated by rigid demand, the market outlook is cautious and positive, refinery shipments are tepid, it is expected that most of the bargaining today will be stable, with a few narrow fluctuations.Futures March 17 news, OPEC+ insisted on increasing production in April, and the uncertain tariff policy put pressure on the oil market. However, after the oil price trended downward to a new low since September last year, it rebounded technically. In addition, the US repurchase SPR plan, oil prices are expected to stop falling and strengthen. From a long-term perspective, pay attention to the global economic recovery, geopolitics, and the reshaping of the oil supply and demand relationship by energy transformation. With the gradual return of OPEC and non-OPEC production to the market, the Federal Reserve will start a new round of interest rate cuts in the second half of the year. Under the situation where the geopolitical risk premium is gradually squeezed out, international oil prices fluctuate and run weakly.

Oil prices decrease as recessionary worries weigh on demand projections

Skylar Williams

Aug 16, 2022 10:50

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Oil prices fell on Tuesday, extending losses from the previous session, as economic data from China, the world's largest oil importer, fueled fresh concerns about an impending global recession that might affect energy consumption.


Brent crude futures declined 90 cents, or 1%, to $94.20 a barrel at 00:03 GMT. Futures for WTI crude fell 81 cents, or 0.9%, to $88.60 a barrel.


In the previous trading session, oil futures dropped by roughly 3 percent.


As a result of China's dismal economic data, prices dropped. Beijing's zero-COVID policy and the property crisis strangled factory and retail activity in July, pushing the central bank to reduce lending rates to stimulate demand.


After Beijing awarded more quotas in June and July, researchers and traders predict that China's exports of fuel products will approach their highest level of the year in August. In 2022, however, expanded limitations are anticipated to limit shipments to seven-year lows.


According to a report released by the U.S. Energy Information Administration (EIA) on Monday, total output from the major U.S. shale oil basins in September will approach 9,049 million barrels per day, the highest level since March 2020.


Market participants awaited the release of industry data on U.S. crude stocks on Tuesday afternoon. According to a preliminary Reuters poll issued on Monday, oil and gasoline stockpiles likely fell last week, but distillate levels increased. [EIA/S]


Additionally, investors observed efforts to revive the 2015 Iran nuclear agreement. According to analysts, if Iran and the United States accept the European Union's offer to eliminate limitations on Iranian oil exports, the oil supply might expand.


According to an EU official, Iran responded on Monday to the EU's "final" draft language to salvage the 2015 nuclear deal. The official did not comment on Iran's response. The Iranian foreign minister encouraged the United States to be flexible in order to overcome three unresolved issues.

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