S&P cuts Shell's ratings - ANZ

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Analysts at ANZ noted the events in the oil price overnight.

    Key Quotes:

    "Crude oil prices fell sharply. The oil price rally faltered on signs of slowing industrial activity in the world’s biggest energy consumer."

    "China’s purchasing managers index dropped in January to a three-year low."

    "Rising supply also suggests further downside risk to short-term prices."

    "Output from OPEC rose to 33.1m bbl/day last month as Indonesia’s membership to the group was reactivated. On the corporate side, credit rating agency S&P has cut ratings for oil majors like Shell and five others."
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