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Domestic refined oil prices "six-day losing streak" will end or welcome the first half of the year

  • Categories:Zhongrui News
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  • Time of issue:2019-05-28 15:53
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(Summary description)“The crude oil continued to skyrocket after the last round of oil price adjustment. Although it has not changed its six-day losing streak, it has raised the benchmark oil price for this round of price adjustment, so that the crude oil change rate is at a positive high level at the beginning of the valuation period, although later Crude oil fluctuated widely, but it did not change the price increase expectations. The oil price increase in this round was basically confirmed.” Zhuneng Information analyst Wang Neng said in an interview with Securities Daily.

Domestic refined oil prices "six-day losing streak" will end or welcome the first half of the year

(Summary description)“The crude oil continued to skyrocket after the last round of oil price adjustment. Although it has not changed its six-day losing streak, it has raised the benchmark oil price for this round of price adjustment, so that the crude oil change rate is at a positive high level at the beginning of the valuation period, although later Crude oil fluctuated widely, but it did not change the price increase expectations. The oil price increase in this round was basically confirmed.” Zhuneng Information analyst Wang Neng said in an interview with Securities Daily.

  • Categories:Zhongrui News
  • Author:
  • Origin:
  • Time of issue:2019-05-28 15:53
  • Views:
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“The crude oil continued to skyrocket after the last round of oil price adjustment. Although it has not changed its six-day losing streak, it has raised the benchmark oil price for this round of price adjustment, so that the crude oil change rate is at a positive high level at the beginning of the valuation period, although later Crude oil fluctuated widely, but it did not change the price increase expectations. The oil price increase in this round was basically confirmed.” Zhuneng Information analyst Wang Neng said in an interview with Securities Daily.
 
Affected by the "double dip" of international oil prices, after the first "six-day losing streak" in oil prices this year, the new round of oil price adjustment window will open at 24 o'clock on September 16. A number of institutions analyzed that the price of refined oil products is likely to increase this Wednesday.
 
According to the Zhuo Chuang price adjustment model, as of September 14th, the 9th working day crude oil change rate was 5.02%, corresponding to an increase of 120 yuan / ton. The price is increased by 0.09 yuan/liter for 93# gasoline and 0.1 yuan/liter for 0# diesel. If the price is raised in this round, it will become the first increase in domestic refined oil prices in the second half of the year.
 
In this regard, An Xun analyst Yang Dan also agreed. Yang Dan said that from a fundamental perspective, the current supply and demand pattern does not support the sharp fluctuations in oil prices, including the end of the US summer gasoline demand peak, the refinery entering the peak period of maintenance, the global stock market volatility, China's economic worries, OPEC's non-reduction plan and other factors, It is expected that oil prices will still fluctuate at the current price this week, and the upward revision of refined oil prices on Wednesday is imperative.
 
When talking about the late trend of oil prices, Wang Neng said that if the next cycle of crude oil maintains the current wide fluctuations and causes the crude oil benchmark price to fall by 1-2 US dollars per barrel, the next round of oil prices will be lowered, if the crude oil benchmark price A rebound of 1-2 US dollars / barrel, it does not rule out the possibility of stranding, the possibility of oil prices rising is extremely small.
 
The latest IEA report said that demand for crude oil in 2016 will increase by 1.4 million barrels per day. In this regard, analysts said that this is also one of the factors contributing to the rebound in crude oil prices.

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