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SunSirs: Energy, Market Price of Refined Oil Fell slightly Last Week (December 16-22)

December 24 2019 09:59:10     SunSirs (Selena)

  1. Price Data

According to the price monitoring of SunSirs, the price of gasoline and diesel oil was stable with slightly decline last week. The domestic gasoline price was 6,655 RMB/ ton, 0.73% lower than the previous week's gasoline price; the domestic diesel price was 6,388 RMB/ ton, 1.36% lower than the previous week's diesel price.

  1. Analysis of Influencing Factors

Product: the international crude oil continued to vibrate last week, and on December 16, the domestic refined oil price adjustment ran aground. Last week, the market sentiment of gasoline and diesel oil was not high, and the market price was stable with slightly decline.

Industry chain: after the first phase agreement reached between China and the United States at the beginning of last week, market pessimism recovered. At the same time, OPEC deepened the agreement on production reduction, which also enhanced the expectation of tight supply end of the oil market in the future, driving the overall recovery of the crude oil market. The bullish atmosphere in the international crude oil market began to pick up. WTI crude oil futures rose 0.97% last week.

Market: last week, the international crude oil price rose slightly, but had a limited impact on the domestic refined oil market. In terms of gasoline, it was still negative in terms of gasoline market demand, and the overall performance of gasoline prices was general. In terms of diesel, the weather continued to turn cold, the diesel market was further suppressed, and the market price of diesel continued to decline in the week. Last week, local refineries with no new start-up or shutdown continued, and most of the start-up load of refineries remained stable. On the whole, there was no significant change in the refined oil market, and it continued to be stable.

  1. Market Forecast

The oil product analyst at SunSirs believes: the international crude oil market is weak, and the market demand for oil products is not well supported. It is expected that the market price of oil products will continue to decline steadily this week.

 

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