2015 Q2 Oil Prices——Zhou Hong, Deputy manager, China Investment Corporation
2015-04-09
In the report, Mr. Zhou firstly introduces the similar situation in the peak time of U.S. oil production at the end of last century and also states the similarities and differences. Then he shares technological innovations of U.S. shale oil, production change and management situation and summarizes the influences of shale oil production costs on oil prices in medium to long term. Lastly, the report makes a supply and demand forecast based on the supply and demand, global refiners’ maintenance and crude oil stock.
In addition, he analyzes other factors, such as seasonal characteristic of oil price and capital flow, and estimates that the Q2 oil prices tend to be in consolidation.