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SunSirs: Market Price of Refined Oil fell slightly last Week (November 11-16)

November 19 2019 17:24:37     SunSirs (Selena)

  1. Price Trend

According to the price monitoring of SunSirs, the price of gasoline and diesel fell slightly last week. The price of domestic gasoline was 6,205 RMB/ton, 0.55% lower than that of last week; the price of domestic diesel was 6,380 RMB/ton, 0.29% lower than that of last week.

  1. Analysis of Influencing Factors

Product: last week, the international crude oil price fluctuated in a narrow range. On November 18, the domestic refined oil price adjustment was expected to increase, but the increase was only expected to be 60 yuan / ton. Last week, the domestic refined oil market as a whole had a stable operation.

Industrial chain: last week, international crude oil prices fluctuated in a narrow range. Although OPEC countries were expected to continue to expand the scale of production reduction, U.S. crude oil inventory growth, production hit a record high, coupled with a slowdown in global economic growth. The international crude oil market still has no breakthrough direction, and the international crude oil price keeps stable operation.

Market: the stable price of international crude oil market cannot boost the domestic refined oil market. Moreover, the gasoline market has gradually entered the off-season of consumption, and there is no support from good news such as holidays. The gasoline market continues to perform flat. The diesel market continues to support diesel due to the phenomenon of construction, engineering, etc., so the overall delivery of diesel is better than gasoline. In addition, last week, the maintenance of refined oil units was less, the operating rate continued to rise, and the supply was more sufficient, which hindered the price rise of domestic refined oil market.

  1. Market Forecast

Analyst of refined oil products of SunSirs believes that at present, the international crude oil market is dominated by volatile operation, and has not yet found a breakthrough direction. In November, the market demand for gasoline and diesel oil was flat, and the market price of refined oil is expected to fall steadily next week.

 

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