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CHINA OILFIELD Views Trump's Re-election as Boon for Oil & Gas Industry, Predicts Oil Prices US$60-85 This Yr
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Donald Trump has officially been sworn in as the 47th President of the United States. Earlier, Bloomberg cited sources as saying that Trump intends to declare a national energy emergency shortly after taking office in order to boost US energy production. Zhao Shunqiang, Chairman and CEO of CHINA OILFIELD (02883.HK), believed that Trump is a supporter of traditional energy, which is relatively favorable for the oil and gas industry, even though overall oil and gas production capacity still exceeds demand. With the intensifying situation in the Middle East and the ongoing Russia-Ukraine war, Zhao predicted oil and gas supply to remain relatively tight, while oil and gas prices will stay at a relatively neutral and reasonable level. In his estimate, oil prices will remain US$60-85 per barrel this year as projected by the industry. AAStocks Financial News |
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