It’s not a lie. It was not until 2014, with the establishment of crude oil exchanges represented by Shenzhen Oil Exchange and Beijing Oil Exchange, that spot crude oil began to enter people's field of vision. There is nothing wrong with the investment product itself of spot crude oil. It is an investment and financial product recognized by the country. It is only due to the irresponsible behavior of some unscrupulous brokers in the market that they guide customers to place random orders and take heavy positions. It's a scam, it's irrational, and it's not objective. Spot crude oil is the aircraft carrier among commodities, but it was just because my country's financial system was not open enough before. At present, the more authoritative crude oil exchanges in China are Shenzhen Oil Exchange and Beijing Oil Exchange.

Overview of Beijing Petroleum Exchange

Beijing Petroleum Exchange (hereinafter referred to as "Beijing Petroleum Exchange") was registered and established on December 28, 2007 and completed on November 2, 2010 Equity reorganization is currently the only comprehensive service platform for spot trading of petrochemical products in Beijing that is jointly built by municipal state-owned capital and central petroleum enterprises. Relying on Beijing's rich industrial resource advantages of petroleum and petrochemical central enterprises and strong financial resources, and following the principle of government-led and market-oriented operation, Beijing Petroleum Exchange is based on spot trading, and its business scope covers all petroleum and petrochemical product transactions, providing members with everything from trading to financing. , full comprehensive services from settlement to settlement. As of 2013, a total of 215.209 billion yuan in transactions had been realized, exceeding the key task of building a 100 billion platform in the capital.

Crude oil investment

Petroleum investment is an important investment project in the world. Domestic individuals participate in crude oil investment mainly through cooperation with institutional members of the Petroleum Exchange. The exchange does not support individual investment. There are four main investment methods internationally: spot investment, futures investment, futures index investment and energy stock investment; domestically, there are mainly two methods of spot investment and futures investment. Among them, spot investment is an emerging crude oil investment method in China. Only the Beijing Petroleum Exchange realizes spot oil investment in China. On February 14, 2014, Beijing Petroleum Institute's spot trading of refined oil products was officially launched, marking the official operation of China's first online trading platform integrating wholesale and retail trading of refined oil products. The first phase of trading was National IV 93# gasoline. From February 14, 2014, the Beijing Petroleum Exchange opened a channel for individuals to make spot investments. Individuals can invest through cooperation with institutional members within the Beijing Petroleum Exchange.

Principles for generating product oil transaction prices?

Beijing Petroleum is based on the international crude oil market price during trading hours, based on the oil yield rate of domestic crude oil processing of refined oil and the People's Bank of China Calculate the benchmark exchange rate of RMB against the U.S. dollar on the day, and continuously report the RMB intermediate guidance price of refined oil spot products (this price does not include relevant taxes and fees). Resource-based members with refined oil business qualifications entrust comprehensive members to quote the buying and selling prices based on the intermediate guidance price of the Beijing Petroleum Exchange.

Trading hours

Quotation time: The market is open every Monday to Friday.

(Except settlement time, national statutory holidays and international market closures)

Monday 7:00 am to Saturday 6:15 am.

Settlement closing time:

On trading days, from 6:15 to 7:00 am.

The specific market opening, closing and closing times shall be subject to the announcement of the exchange.