综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

World / Asia-Pacific

Oil jumps after Saudi king's death amid huge market shifts

(Agencies) Updated: 2015-01-23 09:53

SINGAPORE - Oil prices jumped in early Asian trading on Friday as news of the death of Saudi Arabia's King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades.

Abdullah died early on Friday and his brother Salman became king, the royal court in the world's top oil exporter and birthplace of Islam said in a statement carried by state television.

US benchmark WTI crude futures rose more than 2 percent to a high of $47.76 a barrel in early Asian trading. International benchmark Brent futures opened up almost 1.5 percent higher at $49.10 per barrel at 0100 GMT.

The Saudi King's death comes amid some of the biggest shifts in oil markets in decades.

"The fear of the unknown is going to be supportive to crude oil prices," said John Kilduff, partner, Again Capital LLC in New York.

"King Abdullah was the architect of the current strategy to keep production high and force out smaller players instead of cutting," he added.

Oil prices have more than halved since peaking in June last year as soaring supplies clash with slowing demand.

Booming US shale production has turned the United States from the world's biggest oil importer into the biggest producer, producing more than 9 million barrel per day.

To combat soaring output and falling prices, many oil exporters, such as Venezuela, wanted the 13-member Organization of the Petroleum Exporting Countries (OPEC) to cut output in order to support prices and revenues.

Yet, led by Saudi Arabia, OPEC announced last November it was keeping output steady at 30 million barrels per day.

Brent, which had already fallen to $77 per barrel by the time of the OPEC meeting, dropped another quarter over the next month as the market digested the fact OPEC would not come to the rescue.

OPEC's decision not to act, led by Saudi Arabia, was aimed at defending market share against US shale producers as well as other non-OPEC exporters such as Brazil or Russia.

Trudeau visits Sina Weibo
May gets little gasp as EU extends deadline for sufficient progress in Brexit talks
Ethiopian FM urges strengthened Ethiopia-China ties
Yemen's ex-president Saleh, relatives killed by Houthis
Most Popular
Hot Topics

...
清涧县| 深州市| 拉萨市| 青州市| 阿拉善左旗| 无极县| 孙吴县| 韶关市| 垦利县| 雅江县| 深州市| 肥西县| 阳高县| 运城市| 林周县| 尼勒克县| 芜湖县| 西吉县| 鹿泉市| 永仁县| 柳州市| 彭水| 宣汉县| 垣曲县| 平陆县| 大埔区| 文水县| 浦县| 塔城市| 儋州市| 伊宁县| 长沙市| 玉树县| 铜鼓县| 通城县| 通河县| 清涧县| 苏尼特左旗| 绥阳县| 无棣县| 绥滨县|