China oil companies could report 'significant losses' in the first quarter, Bernstein says

as a result of the low oil prices," Neil Beveridge, senior oil and gas analyst at Bernstein, told CNBC's "Street Signs."

for the first time in history. Fears are mounting over slowing demand as a result of the economic fallout from the global coronavirus pandemic. "As a result, you'll see very significant losses I think, as they report numbers," Beveridge said, with the second quarter set to be "even worse."

Completely agree, I expect that we are gonna see how Oil becomes 'rubbish' due to low demand and electric vehicles, in the middle and long term. There will be no Rebound which we are gonna see, that's just a 'breather'

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coronavirus: UK could abandon China relationship, scrap Huawei deal - Business InsiderBoris Johnson is under pressure from his own party to reset the UK's relationship with China after Beijing 'consistently lied' about the coronavirus pandemic Not because the age of consent is 14 in China. As father of 3 daughters, I find it repulsive and horrible; sorry for my tangent but I feel very strong about it ! Whoever advised Boris Johnson to visit a Covid19 unit at a hospital and shake hands with patients? He could not see what was already happening in Italy? Total waste of time and a distraction...no.need for that now
Source: BusinessInsider - 🏆 729. / 51 Read more »