SunSirs: Energy, the Market Price of Refined Oil Fell first and then stabilized Last Week (April 20-26)
April 27 2020 10:20:39 SunSirs (Selena)
According to the price monitoring of SunSirs, the price of gasoline and diesel first fell and then stabilized last week, with a slight decline. The price of domestic gasoline was 4,816 RMB/ ton, 3.44% lower than that of the previous week; the price of domestic diesel was 5,129 RMB/ ton, 1.49% lower than that of the previous week.
Analysis of Influencing Factors
Product: crude oil futures fell sharply last week, the operating rate of domestic refining and chemical equipment remained high, the demand of refined oil market was not good to stimulate, and the price of refined oil market fell slightly last week.
Industry chain: WTI futures delivery dropped international oil prices, crude oil prices fell, the "US Iran" relationship was once again strained last week, geopolitical risk factors increased the premium space of crude oil; at the same time, OPEC+ and other oil producing countries gradually put production reduction on the agenda, active production reduction combined with passive production reduction brought a certain boost to the market. International oil prices fall first and then rise.
Market Forecast
The SunSirs oil product analyst believes that, the international crude oil demand is weak, the market price is still under pressure, and there is no bright spot in the domestic oil product demand, so it is expected that the domestic oil product market will be weak and stable.
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