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《專題》一表了解油價與油服行業傳導關係
阿思達克 01-10 13:02

據中銀國際去年9月報告,列出對油價與油服行業傳導關係:

油價與油服行業傳導關係

(1)原油市場供應變化及其他因素(如美伊局勢緊張)-

(2)原油價格變化-

(3)油公司資本開支調整-

(4)勘探開發項目數量變化-

(5)設備與服務公司訂單、收入及業績變動國際市場:

油價上行:傳導油公司資本開支1.5至2年

油價下行:傳導油公司資本開支2至3個季度國內市場:

油價上行:傳導油公司資本開支1至1.5年

油價下行:傳導油公司資本開支0至2個季度

-當油價顯著高於開發成本時,油氣公司開採動力加大,油服公司工作量提升

該行估計,布蘭特油價處每桶50美元以上時,油服工程公司季度收入可保正增長

-據Rystad Energy研究顯示,中東地區原油開發成本平均每桶27美元,近海油田成本每桶41美元

當布蘭特油價中樞穩定每桶55美元,大部份國家原油開發可覆蓋成本,實現盈利

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