Oslo stock Exchange
Oljeprisoppgang and claims about the produksjonskutt sent Oslo Børs for a solid upswing on Thursday.
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the rig company Seadrill rose a total of 32,94 per cent on the Oslo stock Exchange on Thursday after oljekartellet Opec agreed to cut in the overall production.
The crisis-hit company has thus climbed to a total of 18 per cent in the last week, and is down 58,59 per cent in the last twelve months.
Recently there was held the general meeting for more John Fredriksen-controlled companies in Bermuda. Where was it decided that the Fredriksens daughter, Kathrine Fredriksen (33), goes out of the board of directors of Seadrill.
Read more: Out of the Seadrill board
oil service company Petroleum Geo-Services climbed 10,64 per cent.
Oil company Statoil and DNO could also benefit from Opecs agreement on the cuts and the rise in oil prices. The shares ended up, respectively, 6,94 per cent and 5,68 per cent.
the Price for a barrel nordsjøolje with delivery about a month climbed close to six per cent on Wednesday. On Thursday, however, fell back.
at the time Of writing traded it for 48,59 dollars a barrel.
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a Lot of uncertainty
analysis supervisor for commodities at SEB, Bjarne Schieldrop, said that the new Opec agreement after all judging will lead to a faster rebalancing of the oil market.
He emphasizes at the same time that there is a lot of uncertainty, since the final agreement, the first will be presented at the next Opec meeting 30. november.
There are, among others, a risk that increased oil prices leads to skiferproduksjonen in the united STATES rises so much that it offset priseffekten. Opec plays a game of chance here, he says to TDN Finans.
He believes Opecs primary purpose of the produksjonsavtalen was to avoid that the oil price falls below 45 dollars a barrel, rather than to raise prices.
- If one looks at the recent reports from the IEA, EIA and Opec itself, so estimate all of the a oil production of 8.5 million barrels from the united STATES in 2017. It will say that the market needs 33 million barrels from Opec to go in the balance sheet. A further over-production, when the warehouses already are full, as now, could lead to a severe fall in prices in 2017. I think it is that Opec has tried to avoid, ” says Schieldrop.
Before the agreement was known, waited SEB a snittpris 55 per barrel for 2017 and 60 per barrel for 2018. They are expecting a relatively weak rate in the first half of 2017 and then an acceleration after that.
We must see whether we need to revise the projections slightly as a result of the Opec agreement. At the same time, we raise oljeprisprognosene, we must also raise the estimates for how much the united STATES will produce, he says.
the main index on the Oslo stock Exchange rose by 2,24 per cent on Thursday to 623,08 points.
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