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SunSirs: Energy, Refined Oil Market Price Remained Stable Last Week (March 23-27)

March 30 2020 11:08:44     SunSirs (Selena)

According to the price monitoring of the business agency, the price of gasoline and diesel kept stable operation last week, with small fluctuation range. The domestic gasoline price was 5,221 RMB/ ton, 0.36% higher than the previous week's gasoline price; the domestic diesel price was 5,361 RMB/ ton, 0.52% lower than the previous week's diesel price.

Analysis of Influencing Factors

Products: crude oil futures prices fluctuate at the bottom, domestic enterprises return to work to stabilize the demand market for refined oil, the transaction and price are all in an upward trend, and the market price of refined oil keeps stable this week.

Industry chain: at present, many countries have increased their fiscal policies, and the central banks of many countries have released water to support economic development; as of the week of March 20, the crude oil inventory in the United States had dropped by 1.25 million barrels; market information was good for the international crude oil market, while the international crude oil price had dropped to a low level, and there was limited space for further decline. International crude oil prices were bottoming out last week.

Market: previously, the international crude oil price has been in a downward trend, and the domestic gas and diesel prices have fallen to a low level. Last week, there was a bottom up in the international crude oil market, which greatly stimulated the enthusiasm of downstream customers for replenishment. At the same time, the resumption of domestic enterprises led to an upward market demand and improved market transactions. However, in the early stage, the refinery was shut down and started one after another. The average starting load of the unit was 61.84%, 9.15 percentage points higher on a month on month basis, and the supply of gasoline and diesel increased. Last week, the price of refined oil market rose limited and kept stable.

Market Forecast

The oil product analyst of SunSirs believes that: at present, the crude oil market price is at the bottom of the market. In addition, the oil price war between Saudi Arabia and Russia shows no signs of turning around, and the action force in the oil product market is unknown. It is expected that the price of the oil product market will remain low in the near future.

 

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