First, we should know that almost 70% of China's oil is imported, and 30% of the oil is the main force of China's oil exploitation. Probably the highest mining cost can reach 50 dollars a barrel. As a national strategy, no matter whether the international oil price is high or low, PetroChina will hold constant fixed production, even at the expense of losses, but it also shows that the company's operating conditions are improving month by month, and profits have turned from negative to positive since June.
Second, the global oil giants suffered heavy losses in the first half of the year.
However, oil prices have been negative this year, and it is expected that these companies will not have much chance in the second half of the year. On the other hand, in the food and beverage industry, the total market value of Haitian flavor industry selling soy sauce exceeded 500 billion last week, surpassing Sinopec. Every household can afford a bottle of soy sauce, which is more expensive than a barrel of oil in state-owned enterprises. Even more expensive than a barrel of oil in state-owned enterprises. In the first half of the year, the condiment industry really had a glimmer of hope behind the dark clouds, and the valuation performance rose in unison.
Third, the spread of pneumonia will hit the global crude oil market in 2020. In April, US crude oil futures plunged at an unprecedented price. At present, the oil and gas industry has not recovered, and the rebound of oil prices in the second half of the year faces strong uncertainty. Companies in the industry will continue to challenge for free. There is also the last trading day in August, and the disclosure of the interim report of listed companies is coming to an end. There is no doubt that the first half of this year attracted great attention. How did all walks of life perform under the epidemic?
I wonder what you think of the oil spill.