Chinese three rising oil price is almost a foregone conclusion
2016.05.24
May 25th, the domestic price of refined oil will usher in the time window. Due to the recent international oil market "Black Swans" events are frequent, to promote international oil prices continue to rise, and refresh a new high for the year. Affected by this, China's refined oil prices "three high" is almost a foregone conclusion.
In the current round of oil price adjustment period, the international oil market "black swan" frequent incidents of Canada forest fire hit the local oil sands production, Nigeria oilfield attacked oil production fell to its lowest level in 22 years, Venezuela led to instability in oil production by the impact...... Multiple impact, international oil prices continue to go high. The research institutions generally believe that the domestic oil price adjustment window will open again, three rising oil prices is almost a foregone conclusion.
Xinhua news agency, the data show that the oil price system in May 20th, in May 23rd the average price of a basket of crude oil price change rate of 6.43%.
China's refined oil price adjustment is closely linked with the international market price. This year, the international oil prices started to slow down, in February fell to 12 year low, and then all the way back to the present. As of now, the cumulative increase in oil prices in New York 29% years, Brent oil prices rose 30.7% year cumulative.
Since January 13th of this year, the national development and Reform Commission set the lower limit of domestic refined oil price regulation, that is, the international market crude oil prices below $40 a barrel, the domestic refined oil prices are no longer down. This year, China's refined oil prices have experienced a 9 round of price adjustment cycle, a total of 1 times, 2 times, 6 times to adjust the price adjustment. Gasoline prices rose 145 yuan per ton, diesel prices rose 140 yuan per ton.
Although international oil prices continued to rise in the near future, but industry experts believe that the cumulative increase in crude oil has been greater, and speculative driven significantly, the future of the greater the risk of callback.
In May, speculative fund performance intriguing, two consecutive weeks Jiancang sharply, then large-scale approach. U.S. Commodity Futures Commission, the latest disclosure of the data show that as of May 17th week, the net amount of speculative funds to reach 369 thousand hands, reaching a new high of nearly 21 months, up 26.3% over the previous week. This shows that the oil market speculation atmosphere is very strong.
Eastern oil and gas network product manager Cheng Ruifeng believes that although the international oil prices to sustain gains, but facing multiple bad, such as post Fed rate hike is expected to heat up, the situation has not changed for super crude oil and commodities overall weakness etc.. International oil prices are expected to continue to increase the risk of late, the short term is difficult to break through the $55 a barrel.
Experts believe that the international oil prices rebounded from more than and 20 U.S. dollars a barrel so far, the fundamental improvement in the fundamentals of supply and demand has not occurred.
Although the U.S. crude oil production has dropped to its lowest level since September 2014, but other oil production remains high domestic. (source: People's daily)
In the current round of oil price adjustment period, the international oil market "black swan" frequent incidents of Canada forest fire hit the local oil sands production, Nigeria oilfield attacked oil production fell to its lowest level in 22 years, Venezuela led to instability in oil production by the impact...... Multiple impact, international oil prices continue to go high. The research institutions generally believe that the domestic oil price adjustment window will open again, three rising oil prices is almost a foregone conclusion.
Xinhua news agency, the data show that the oil price system in May 20th, in May 23rd the average price of a basket of crude oil price change rate of 6.43%.
China's refined oil price adjustment is closely linked with the international market price. This year, the international oil prices started to slow down, in February fell to 12 year low, and then all the way back to the present. As of now, the cumulative increase in oil prices in New York 29% years, Brent oil prices rose 30.7% year cumulative.
Since January 13th of this year, the national development and Reform Commission set the lower limit of domestic refined oil price regulation, that is, the international market crude oil prices below $40 a barrel, the domestic refined oil prices are no longer down. This year, China's refined oil prices have experienced a 9 round of price adjustment cycle, a total of 1 times, 2 times, 6 times to adjust the price adjustment. Gasoline prices rose 145 yuan per ton, diesel prices rose 140 yuan per ton.
Although international oil prices continued to rise in the near future, but industry experts believe that the cumulative increase in crude oil has been greater, and speculative driven significantly, the future of the greater the risk of callback.
In May, speculative fund performance intriguing, two consecutive weeks Jiancang sharply, then large-scale approach. U.S. Commodity Futures Commission, the latest disclosure of the data show that as of May 17th week, the net amount of speculative funds to reach 369 thousand hands, reaching a new high of nearly 21 months, up 26.3% over the previous week. This shows that the oil market speculation atmosphere is very strong.
Eastern oil and gas network product manager Cheng Ruifeng believes that although the international oil prices to sustain gains, but facing multiple bad, such as post Fed rate hike is expected to heat up, the situation has not changed for super crude oil and commodities overall weakness etc.. International oil prices are expected to continue to increase the risk of late, the short term is difficult to break through the $55 a barrel.
Experts believe that the international oil prices rebounded from more than and 20 U.S. dollars a barrel so far, the fundamental improvement in the fundamentals of supply and demand has not occurred.
Although the U.S. crude oil production has dropped to its lowest level since September 2014, but other oil production remains high domestic. (source: People's daily)
