China is hoarding crude at the fastest pace in at least a decade, shielding itself from supply disruptions and helping keep prices above $100 a barrel.
Gordon Kwan, the most-accurate forecaster of Brent oil prices in the eight quarters through March 31, will leave Mirae Asset Securities Ltd. in Hong Kong at the end of June.
Mirae Asset Securities Ltd. was the most accurate forecaster of oil traded in New York out of 26 analysts ranked by Bloomberg over the last eight quarters.
PetroChina Co., the country’s biggest oil and gas producer, and the nation’s utilities stand to win from Russia’s $400 billion deal to supply gas to China, which will will provide the fuel at a price lower than expected.
Gordon Kwan, head of energy research at Mirae Asset Securities HK Ltd., talks about the outlook for the global energy industry.
Russia is close to signing a decades- long contract to supply natural gas to China at a price that would value the deal at about $400 billion, according to Prime Minister Dmitry Medvedev.
"OPEC will step up and export more to replace the lost Russian crude and calm these oil-price spikes."
- Gordon Kwan on Jul 16, 2014