Oil price refers to the price of international or domestic refined oil. Starting from 24:00 on March 17, 2020, domestic gasoline and diesel prices will be reduced by 1,015 yuan and 975 yuan per ton respectively. Since 24:00 on November 5, domestic gasoline prices have dropped by 1,940 yuan/ton, and diesel prices have dropped by 1,870 yuan/ton. Starting from 24:00 on June 28, 2021, domestic gasoline and diesel prices will increase by 225 yuan and 215 yuan per ton respectively. Starting from 24:00 on July 26, domestic gasoline prices will be reduced by 100 yuan per ton, and diesel prices will be reduced by 95 yuan per ton. At 24:00 on September 18, China raised the price limit for gasoline and diesel by 90 yuan per ton of gasoline and 85 yuan for diesel, equivalent to an increase of 0.07 yuan per liter of No. 92 and No. 95 gasoline. Starting from 24:00 on October 9, domestic gasoline and diesel prices will increase by 345 yuan and 330 yuan per ton respectively. Starting from 24:00 on October 22, the price of domestic gasoline will be increased by 300 yuan per ton, and the price of diesel will be increased by 290 yuan per ton. Starting from 24:00 on November 19, 2021, domestic gasoline and diesel prices will be reduced by 95 yuan and 90 yuan per ton respectively.

1. Summary of common institutions and abbreviations in the international oil market: OPEC: The Organization of the Petroleum Exporting Countries was established in 1960. It currently has 12 member countries and its oil reserves account for 77% of the world’s total oil reserves. The international organization that has the greatest impact on international oil prices. IEA: The full name is the International Energy Agency. It is an international organization that coordinates and guides international energy work. It was founded in 1974 and is headquartered in Paris, France. EIA: The U.S. Energy Information Administration is a statistical agency under the U.S. Department of Energy. Its purpose is to provide crude oil investors with accurate and independent judgments, forecasts and analysis. API: American Petroleum Institute is a U.S. petroleum industry organization that provides important weekly data on U.S. oil consumption and inventory levels. It was founded in 1919. NYMEX: New York Mercantile Futures Exchange, mainly trading energy products, the trading method is futures and options trading.

2. International oil prices rebounded sharply on Thursday, with Brent crude oil futures and U.S. crude oil futures both soaring more than 10%, recovering significant losses during the global market turmoil earlier this week, thanks to market speculation Venezuela's call for an emergency meeting of OPEC, a rebound in global stock markets and a slowdown in supply prompted a short-covering rally. The Wall Street Journal reported that Venezuela has contacted OPEC members and urged to hold an emergency meeting with Russia to formulate a plan to curb the plunge in oil prices. Brent crude oil futures prices closed up $4.42, or 10.25%, at $47.56/barrel on Thursday; US NYMEX crude oil futures prices closed up $3.96, or 10.26%, at $42.56/barrel on Thursday. A surge in Chinese stocks eased concerns about the country's economy and pushed commodities broadly higher after a selloff this week. On Thursday, the Shanghai Composite Index closed up 5.3%. U.S. stocks broke a six-day losing streak on Wednesday, posting their biggest one-day gain in nearly four years. Gains in securities underpinned broad gains in so-called risk assets such as oil and copper, according to analysts.