FX168 Financial News (Hong Kong) News Rating agency Moody's released a report on Tuesday (January 4) that oil prices are expected to continue to show sharp range fluctuations in the coming year, while global oil and gas industry prices will continue to weaken in 2017.
    Non-OPECs such as OPEC and Russia reached a historic agreement last month, reducing production by nearly 1.8 million barrels per day from January 1, 2017. The market is now closely monitoring the implementation of the agreement. Boosted by news of oil production cuts, oil prices have risen by about 20% since November 30 last year.
    On Wednesday (January 4th), Brent crude futures rose 0.76% to $55.89 a barrel, while US crude oil futures (WTI) rose 0.76% to $52.72 a barrel. In 2016, Brent crude oil futures rose 52%, and US crude oil futures climbed about 45%, the largest annual increase since 2009.
    Moody's said that in 2017, North American exploration and production (E&P) and midstream industries are expected to see increased M&A activity. At the same time, under the administration of the US President-elect Donald Trump, the US energy policy may give priority to domestic oil and coal production and reduce the federal regulatory burden.
    In addition, the agency pointed out that although the financing risks of Latin American oil companies have been slightly reduced, they will remain "a big problem" in the next few years.
    According to the latest survey released by foreign media, the median estimate of the average price of Brent crude oil for 2017 is 5.74 US dollars per barrel; slightly higher than the previous estimate of 57.01 US dollars. At the same time, the average US crude oil price in 2017 is expected to be 55.71 US dollars per barrel, and the average US crude oil price in 2016 is 43.47 US dollars.
    In this special industry environment, Shenyang Tiantianyuan Packaging Co., Ltd. has ensured high-quality supply by virtue of years of good faith management. At the same time, the downstream dealers abide by the commitments and ship at the agreed price. In the sudden turmoil, the essence of Tiantianyuan's packaging integrity management is reflected, and the trust and praise of the customers are obtained, thus entering a virtuous circle. Tiantian Yuanhui will adhere to the humanity as the foundation in the future growth path, based on quality, and pay attention to environmental protection as its own responsibility, and strive to produce high quality BOPP tape mother roll; tape semi-finished product; BOPP tape; tape finished product and mask film , cleaning tape, electrical tape; insulation pipe PVC pipe tape, white paper aluminum foil, rubber and plastic cloth base, explosion-proof aluminum foil; seam mesh (paper) with series of caulking mesh belt, seam paper tape; textured paper Series of practical textured paper, high-viscosity textured paper, automotive medium-temperature textured paper, exterior wall professional textured paper; cloth base; PVCC warning tape; greenhouse tape. Our company must make a meager effort to turn China's plastics country into a plastic powerhouse, and the plastics industry has successfully transformed and upgraded. This requires us to work hard to develop new technologies and products for the packaging enterprises of Northeast Tape, to integrate with the international market, enhance the strength, and strive to make BOPP tape mother rolls; tape semi-finished products; BOPP tape; tape products to achieve world-class level, Take the northeast tape out of the country and face the world.

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