油价新锚点——美国页岩油盈亏平衡点

格隆汇
13 Jun

本文来自格隆汇专栏:天风研究,作者:张樨樨团队天风证券认为油价再次测试美国页岩油的边际成本点位,预计在没有突发的供给端事件或者需求急剧恶化的情况下,WTI油价或在美国页岩油的盈亏平衡点附近波动。页岩油维持资本开支纪律性,2025Q1纷纷下调资本开支指引4月份以来由于美国政府关税政策以及OPEC以三倍速加速增产的决定对油价冲击明显,油价下降约10美金/桶,5月初美国页岩油公司一季报纷纷出炉,整体都...

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