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SunSirs: China Domestic Refined Oil Price Ushers in the First downward Adjustment in the Year

April 01 2021 13:33:14     SunSirs (Selena)

In this round of pricing cycle, bad news of the international crude oil market has been continuously spread, the European vaccination has slowed down, and the market's worry about the demand for crude oil has risen again; in addition, the strong US dollar, the increase of US crude oil inventory, and the tension between the US and Russia have been added to the negative news. International crude oil prices continue to decline. At the end of this cycle, the Suez Canal blocked the channel, and the international crude oil price stopped falling and stabilized. On the whole, the price of international crude oil market went down in the early stage and fluctuated widely in the later stage. According to the monitoring data of SunSirs, the crude oil change rate of the three places continued to decline. As of March 29, the crude oil change rate was 5.21%. At 24:00 on March 31, the price adjustment of refined oil will usher in the first drop in the year. The price of refined oil will be reduced 230 RMB/ ton, and the price will be reduced about 0.18 yuan / liter.

In the later stage, near the OPEC production reduction conference, the continuation of the production reduction policy is uncertain; the European epidemic is repeated, and the oil demand is constrained; the international crude oil market is facing a downward trend. However, Lu Xingjun, an analyst at the business news agency, believes that: the action under the international oil price is weakening, the opening rate of international crude oil continues to decline sharply is relatively small, and the new round of refined oil price adjustment in China will be based on the expectation of grounding.

 

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