China Petroleum & Chemical Corp Class A

600028: XSHG (CHN)
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We Lift Our Midcycle Oil Price by $5 to $65 Brent; Raising FVEs Across China Energy Coverage

We've updated our midcycle oil price assumption. Our 10-year forecast marries our bullish in-house oil demand view with Rystad's supply projections, which aligns with our revised, long-term take.

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