SunSirs: Energy, Market Price of Refined Oil Remained Stable Last Week (April 12-17)

According to the price monitoring of SunSirs, the price of gasoline and diesel rose and fell last week, with a slight fluctuation. The domestic gasoline price was 4,988 RMB/ ton, 0.12% lower than that of the previous week; the domestic diesel price was 5,207 RMB/ ton, 1.32% higher than that of the previous week.

Analysis of Influencing Factors

Products: crude oil futures continued to fall last week, the operating rate of domestic refining and chemical equipment remained high, the market demand for refined oil gradually returned to normal, and the market price of refined oil remained stable last week

Industry chain: although the OPEC+ production reduction meeting achieved the production reduction, it was less than the expectation. In addition, the crude oil inventory in the United States continued to increase, the demand expectation of the crude oil market fell sharply, and the international crude oil price continued to fall.

Market: in terms of gasoline demand, at present, holidays have a limited stimulating effect on domestic gasoline demand. In addition, the international oil price is at a low level, downstream gas station customers purchase on demand, and the market transaction performance is average. In terms of diesel, engineering, infrastructure, logistics and transportation industries are still relatively active, forming a strong support for the diesel market. Last week, the domestic refined oil market showed strong diesel and weak gasoline, with overall stable operation.

Market Forecast

The oil product analyst of SunSirs believes that, international oil price will continue to run at a low level, domestic oil product demand will recover steadily, and it is expected that domestic oil product market will continue to run steadily, and continue to present a pattern of strong diesel and weak gasoline.

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