China's oil demand is growing rapidly. Since 1993, it has become a net importer of oil. At present, it imports more than 70 million tons of crude oil every year and spends nearly 20 billion US dollars. The year before last, billions of dollars were overpaid because of the rise in international oil prices. At present, China's oil supply, demand and price are increasingly dependent on foreign resources, and the risks it bears are also increasing. Domestic enterprises have a high voice for resuming oil futures trading. In fact, China has made a successful exploration in the field of oil futures. At the beginning of 1993, the former Shanghai Petroleum Exchange successfully launched oil futures trading. Later, the former South China Commodity Futures Exchange, the former Beijing Petroleum Exchange and the former Beijing Commodity Exchange successively launched oil futures contracts. Among them, the former Shanghai Petroleum Exchange has the largest trading volume and relatively standardized operation, accounting for about 70% of the national oil futures market share.
market price
The pricing of the international crude oil market is based on the standard oil in the world's major oil-producing areas. For example, in the New York Futures Exchange, crude oil futures are based on intermediate base crude oil (WTI) produced in West Texas, and all crude oils produced or sold in the United States are priced based on light and low sulfur WTI. Due to the strength of American super crude oil buyers and the influence of New York Futures Exchange itself, crude oil futures trading based on WTI has become the leader in global commodity futures trading volume. Generally speaking, crude oil futures contracts have good liquidity and high price transparency, and are one of the three benchmark prices in the world crude oil market. When the public and the media usually talk about how many dollars the oil price has exceeded, it mainly refers to this price. However, more than two-thirds of the world's crude oil trading volume is not based on WTI, but on Brent crude oil in the North Sea, which is also light and low in sulfur.
On June 23rd, 1988, London International Petroleum Exchange (IPE) launched Brent crude oil futures contracts, including northwest Europe, North Sea, Mediterranean, Africa, Yemen, etc., all based on this. Because this futures contract meets the needs of the oil industry, it is considered as a highly flexible tool to avoid risks and trade, and it is also one of the three major benchmarks of international crude oil prices. London has thus become one of the three major international crude oil futures trading centers. Brent crude oil futures and spot market constitute Brent crude oil pricing system, covering up to 80% of the global crude oil trading volume. Even today when the price of crude oil in new york is becoming more and more important, about 65% of the global crude oil trading volume is based on Brent crude oil in the North Sea. The conversion relationship between tons and barrels is: 1 ton (crude oil) =7.33 barrels (crude oil), that is, a barrel is about 136 kg. Although there is a fixed conversion relationship between tons and barrels, because tons are quality units and barrels are unit of volume, the density of crude oil varies widely. Therefore, in crude oil trading, if different units are used for calculation, different results will be obtained.
China's oil demand is growing rapidly. Since 1993, it has become a net importer of oil. At present, it imports more than 70 million tons of crude oil every year and spends nearly 20 billion US dollars. The year before last, due to the rising international oil price, it paid billions of dollars more. At present, China's oil supply, demand and price are increasingly dependent on foreign resources, and the risks it bears are also increasing. Domestic enterprises have a high voice for resuming oil futures trading. In fact, China has made a successful exploration in the field of oil futures. At the beginning of 1993, the former Shanghai Petroleum Exchange successfully launched oil futures trading. Later, the former South China Commodity Futures Exchange, the former Beijing Petroleum Exchange and the former Beijing Commodity Exchange successively launched oil futures contracts. Among them, the former Shanghai Petroleum Exchange has the largest trading volume and relatively standardized operation, accounting for about 70% of the national oil futures market share. Its standard futures contracts mainly include Daqing crude oil, 90 # gasoline, 0 # diesel oil and 250 # fuel oil. By the beginning of 1994, the daily average trading volume of the former FXCM global gold exchange had surpassed that of the Singapore International Financial Exchange (SIMEX), the third largest energy futures market in the world, which had a great impact at home and abroad. China's successful practice in the field of oil futures in the past provides valuable experience for future oil futures trading.
The advantages of frying oil are as follows:
1, global market, no dealer control, simple operation.
2. Three-party management of the fund bank, which is safe and reliable, convenient and fast.
3.T+0 trading: you can trade many times a day to increase profit opportunities and reduce investment risks.
4. Two-way transaction: when the price rises, you can buy for profit, and when it falls, you can sell for profit, and the transaction is diversified.
5. There is no limit of price limit, which is beneficial to better grasp the market.
6. The information is open and transparent and will not be manipulated artificially.
7. No delivery time limit, safe and reliable funds and convenient deposit and withdrawal.