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SunSirs: Energy, Market Price of Refined Oil Fell Slightly Last Week (December 9-15)

December 18 2019 17:15:14     SunSirs (Selena)

1. Price Data

According to the price monitoring of SunSirs, the overall price of gasoline and diesel remained stable last week, with a weekly drop of less than 1% for gasoline and diesel. The price of domestic gasoline was 6,691 RMB/ton, 0.92% lower than that of the previous week. The price of domestic diesel was 6,472 RMB/ton, 0.62% lower than that of the previous week.

2. Analysis of Influencing Factors

Product: last week, the international crude oil price fluctuated in a narrow range, the gasoline and diesel market maintained stable operation, with a slight decline.

Industry chain: last week, the international crude oil market was mostly stable. Although the results of OPEC production reduction conference exceeded the market expectation, the EIA inventory data was completely negative, and the international crude oil market was in high shock.

Market: last week, affected by the fog weather, the refinery shipment was hindered to some extent, during which the market transaction continued to be poor. And the overall performance of the downstream demand of the gasoline market was general, so the price of gasoline had slightly dropped. In terms of diesel, freezing and foggy weather further reduced the demand of diesel market, with a strong wait-and-see attitude and general market turnover. The market price of refined oil fell steadily last week.

3. Market forecast

The oil product analyst at SunSirs said, the international crude oil market atmosphere is relatively negative, and the overall trend of oil prices is expected to be weak, and there is no demand support for the oil product market. It is expected that the price of the oil product market will continue to decline steadily this week.

 

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