international crude oil price

Crude Oil Close Up

WTI                51.45                1.16

Brent              59.51                0.75

China's SC main 1901 fell 6.1 to 417.2 yuan/barrel

Notice: Affected by the continuous decline in international oil prices, in the new round of domestic refined oil pricing cycle, the rate of change of crude oil has been firm and negative. Combined with market changes, starting from 24:00 on November 30, 2018, gasoline and diesel across the country, including gas stations in various regions, It will be reduced by 540 yuan and 520 yuan/ton respectively (the final oil price is subject to the official documents of the National Development and Reform Commission). At a discount, oil prices across the country are expected to fall tonight as follows:

92 Gasoline Lowers 0.42 yuan/L -0.43 yuan/L

95 Gasoline Lowers 0.45 yuan/L -0.47 yuan/L

98 Gasoline Lowers 0.45 yuan/L -0.50 yuan/L

No. 0 diesel oil cut 0.43 yuan/liter -0.44 yuan/liter

-No.10 Diesel Lowered 0.45 yuan/L -0.47 yuan/L

For China, as long as the oil price is low enough, it is a good thing. Who makes us a big importer of crude oil. This time the car owners will fill up a 50-litre tank, which will cost 21 yuan -25 yuan less than today! The logistics industry, oil-using units, not to mention, believe that all have opened the mode of saving money.

Car owners can say that in November, they have reduced the cost of oil for three times in a row, but all the increases in a year almost fell back to the level at the beginning of the year in November. It is really very surprising that the international oil price has not only failed to soar to 100 US dollars per barrel, but has almost bottomed out! So things are unpredictable.

Oil prices have fallen, please tell your relatives and friends as soon as possible to let more people know that oil prices have fallen to a new high tonight, and it will be cheaper to refuel tomorrow ~! If you want to know in advance the latest oil prices after the reduction, please pay close attention to this public number.

92 gasoline back to 6 yuan era

After the implementation of the oil price reduction tonight, refined oil has undergone 24 price adjustments during the year, showing 13 rises, 10 falls, and 1 stranded situation. According to the expected price reduction of 0.42 yuan/liter -0.50 yuan/liter tonight, 92 gasoline will enter the 6 yuan era from tomorrow, with an average price per liter around 6.83 yuan, and the price of No. 95 gasoline will also return to about 7.28 yuan/liter, no. 98 gasoline will drop to about 8.03 yuan/liter. The price of No. 0 diesel will also reach around 6.50 yuan/liter. After the "three consecutive falls" in November, gasoline fell by 1425 yuan/ton and diesel fell by 1375 yuan/ton.

Latest international oil price news

Oil prices reversed course on Thursday, rising as much as 2 percent after industry sources said Russia agreed on the need to cut production together ahead of a meeting with the Organization of Petroleum Exporting Countries (OPEC) next week. Since November, oil prices have fallen by nearly 22%, the biggest monthly decline since the height of the financial crisis in 2008.

The Russian Ministry of Energy held a meeting today and agreed after talks with domestic oil producers that production cuts are necessary. At present, all parties are studying the specific timing and scale of production cuts.

International oil prices were suppressed by selling earlier on Thursday, because Russian President Vladimir Putin was not uncomfortable with the oil price of US $60/barrel, and said that even if the oil price was as low as US $40/barrel, the balance of payments could be maintained. This made the market once worried that Russian leaders showed a laissez-faire attitude towards oil prices.

Given that oil prices have fallen a lot from the nearly four-year high hit in early October, Saudi Arabia is pushing other Organization of Petroleum Exporting Countries (OIPEC) and non-OPEC oil-producing countries such as Russia to cooperate with production cuts. At present, most analysts believe that OPEC will announce a production cut of 1.1 million barrels per day at its policy meeting on December 6.

Considering the current oversupply situation, market analysts believe that such a scale of production cuts is not enough to completely change the situation. The current focus needs to pay close attention to the outcome of the talks between President Putin and Saudi Crown Prince at the G20 summit this weekend.

Today's Refined News

The rise in international crude oil has provided confidence to market traders, or mid-and downstream units have increased their purchasing plans as a result, but the market has lagged behind in reacting to the previous plunge in crude oil. Refinery inventory has recently been released, the pressure has been reduced, a small number of refineries have been exploring the bottom gas. It is expected that the price of gasoline and diesel in Shandong will be difficult to form an effective rise today, with a large probability of stability and a weak increase. Today, Panjin refined oil prices have fallen.

According to monitoring, the domestic diesel wholesale market basically showed a trend of first fluctuating upward and turning into a narrow downward trend in 2018. The market high appeared in early October, and the current market has basically fallen to the level at the beginning of the year. Take Shandong market as an example. On January 1, 2018, the average wholesale price of domestic main diesel oil was 6250 yuan/ton. As of November 28, the wholesale price had dropped to 6300 yuan/ton, basically the same as the price at the beginning of the year. On November 28, 2018, the comprehensive price of refining was 6238 yuan/ton, while on January 1, the comprehensive price of refining was 5939 yuan/ton, with a difference of 299 yuan/ton, the transaction price of some refineries has fallen below 6000 yuan/ton.

October 2018 crude oil and refined oil [NDRC]]

In October 2018, my country completed crude oil production of 16.09 million tons, an increase of 0.3 percent over the same period last year; completed crude oil imports of 40.8 million tons, an increase of 31.5 percent over the same period last year; completed crude oil processing of 52.78 million tons, an increase of 4.6 percent over the same period last year; completed crude oil Apparent consumption was 56.75 million tons, an increase of 21.3 percent over the same period last year. In October 2018, the spot price of Brent crude oil was $81.03/bbl, up 41.4 percent from a year earlier. In October 2018, the average wholesale price of 93# gasoline was 10173.3 yuan/ton, an increase of 37.8 percent over the same period last year, while the average wholesale price of 0# diesel was 8324.5 yuan/ton, an increase of 30.0 percent over the same period last year. (from the Changxing Island petrochemical market official website)