Domestic oil prices may meet the "second consecutive decline"

2021-12-02

The reporter of the economic information daily learned from a number of social monitoring institutions that the international oil price fluctuated widely recently due to the joint influence of the United States announcing the joint release of strategic oil reserves with many countries and the re outbreak of the epidemic in Europe. At 24:00 on December 3, the domestic oil price may show a "second consecutive decline". Recently, due to the complete blockade of Austria, the sharp increase of COVID-19 cases in Europe may lead to further restrictive measures. In addition, South Africa discovered COVID-19 variants, exacerbating the market's worries about the economic and energy demand, and severely depressed the oil market atmosphere. In November 26th, the international oil price fell by more than 10%, the largest single day decline since April 2020. In this case, the domestic estimated crude oil change rate is always negative and deepening. According to Jin Lianchuang's calculation, as of December 1, the change rate was - 5.81%, the average price of reference oil was US $77.49, and the domestic gasoline and diesel should be reduced by 300 yuan / ton. According to the calculation of Zhuo Chuang information, the change rate of reference crude oil on the 8th working day in China was - 6.95%, and the gasoline and diesel oil is expected to be reduced by 310 yuan / ton. It is understood that the last price adjustment window was opened at 24:00 on November 19. The retail price limit of domestic gasoline and diesel was reduced by 95 yuan and 90 yuan per ton respectively. According to the principle of "ten working days", this round of price adjustment window is 24:00 on December 3. Gao Qingcui, a refined oil analyst at Zhuo Chuang information, believes that after the decline in oil prices, OPEC + still faces more uncertainty about whether it can continue its previous production increase policy and the development of the European epidemic. Therefore, it is more likely that the international oil price will continue to fluctuate in a wide range in the short term. The situation that the change rate of domestic crude oil is negative is difficult to change. At 24:00 on December 3, the domestic oil price of finished products may "fall for two consecutive times". At that time, the oil cost of consumers will decline. (outlook new era)

Edit:Ming Wu    Responsible editor:Haoxuan Qi

Source:jjckb.cn

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