SunSirs: The Eighth Upward Adjustment Window of Domestic Oil Products Will Open

The current round of domestic oil product price adjustment will start on June 11 and 24, and the domestic oil price will rise for the eighth time this year. Entering the pricing cycle, many regions in the world relaxed the epidemic prevention and control blockade, the continuous growth of vaccination in the United States region, and the peak season of US crude oil demand. The expectation of recovery of demand in Europe and America boosted the crude oil market and the crude oil price continued to rise. In addition, the OPEC + alliance continued to insist on the measure of gradually resuming supply from June to July, which offset the risk that the US Iran nuclear agreement negotiation could lead to increased supply and supported oil prices. As of June 8, Beijing time, the settlement price of the main contract in the US WTI crude oil futures market was at US $70.05/barrel, and the settlement price of the main contract in the Brent crude oil futures market was at US $72.22/barrel. Market participants were optimistic about the economic recovery, and North America entered the driving season to boost demand, adding to the slow progress of the US Iran nuclear negotiations, further pushing up oil prices. At present, there are only two working days left from the price adjustment window. According to the monitoring data of the business community, the crude oil change rate of the three places was 3.3% on June 8. This round will face an upward adjustment, and the domestic oil products will usher in the eighth upward adjustment.

A new round of refined oil price adjustment or a small increase is expected

In the later stage, the market is still optimistic about the growth of global crude oil demand. With the arrival of the peak oil consumption in the US in summer, the form of global epidemic prevention and control has gradually improved. Much good news supports the expectation that crude oil will continue to rise shortly. Crude oil prices are more likely to rise. A new round of finished oil price adjustment will face certain uncertainty, and a small increase may become the main theme.

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