As the major oil-producing countries refused to cut production, the international oil price fell sharply to the lowest level since May 2009 since December 18th. On the fifth working day of the 44th round of valuation period after the implementation of the new mechanism on December 19th, Beijing Zhongyu crude oil was valued at US$59.645/barrel, which was US$7.685/barrel lower than the benchmark, and the crude oil change rate was -11.41%. The monitoring data of the analysis agency is -11.72%.
Zhongyu Information Analyst believes that OPEC is unwilling to bear the responsibility for production cuts alone, and that other major oil producing countries have not shown any sign of production cuts and that the supply side is generally loose. From an economic point of view, with the exception of the US economy, China and the Euro The economic situation in the world, such as the region, is weak, and the energy demand and demand outlook are still worrying. Therefore, the negative factors of the oversupply of the oil market will continue to suppress the market. However, given that the current international oil price is below US$60/barrel, some investors have loosened their positions and may provide little support for the oil market. Based on comprehensive news and technical considerations, the international oil price may remain volatile and slightly bearish next week.
"The final reduction is expected to be 440 yuan / ton, the current international crude oil market is still dominated by the empty side, the trend continues to decline in the latter part of the week, this week, the last time in 2014, refined oil products will be lowered, and the rate of reduction will continue to widen "The analyst of Zhongyu Information expects. It is worth noting that while the first two domestic oil price cuts, the consumption tax has also risen. The first tax increase is based on the premise that the price of oil does not rise. The second time, the tax increase and price reduction are implemented simultaneously.
Analysts believe that when the price adjustment window opens this week, it is unlikely that the refined oil consumption tax will be raised again. However, there are also oil refining agencies forecast that, at present, although domestic oil prices have a downward trend, but in view of the recent two price adjustments, the country's macro-control of refined oil consumption, the next round of price adjustment does not rule out the possibility of intervention.
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