Last month, Tedros Adhanom Ghebreyesus, Secretary-General of the World Health Organization, announced that the epidemic caused by novel coronavirus had constituted a "public health emergency of international concern". On that day, international oil prices plunged 2% to the lowest level in three months. Brent crude oil fell $1.52, or 2.5%, to close at $58.29 a barrel. The outbreak of the epidemic has caused the price of major products in the international energy market, especially oil, to fluctuate, and its impact on China and even the world economy has been increasing.
on February 3rd, WTI crude oil futures fell 2.8% to close at $5.11/barrel, hitting an intraday low of $49.91/barrel, which was 23.7% lower than the intraday high of $65.65/barrel on January 8th, which means WTI crude oil has entered a bear market area. Similar to WTI, Brent crude oil price plunged nearly 4% on Monday to close at $54.45 a barrel, down 24% from the January high, and also entered a bear market.
in fact, before this, the global crude oil supply and demand was in an unbalanced state. The situation that many non-OPEC oil-producing countries, such as the United States, have greatly increased their production has kept crude oil in a situation of oversupply. The data shows that as of the week of January 24, the US EIA crude oil inventory increased by 3.548 million barrels compared with the previous week, while in the previous market expectation, this figure was 5, barrels. After the news was announced, the international crude oil futures price went down rapidly.
China is the second largest oil consumer in the world, but it is the largest crude oil importer in the world. As the epidemic drags on, it will have a great impact on China's demand, so it will directly affect the oil price, and neighboring countries will also suffer from it. For example, planes from other countries will not fly to China, which will have an overall impact on demand, and the supply will remain unchanged, and there will be a big gap in demand, and the oil price will fall. In the long run, it should not be a big problem. The epidemic will always pass. China must maintain economic growth, and the government will introduce some measures. Oil prices may go up soon.
Today, the National Development and Reform Commission (NDRC) said that according to the recent changes in oil prices in the international market, according to the current formation mechanism of refined oil prices, the domestic gasoline and diesel prices (standard products) will be reduced by 42 yuan and 45 yuan per ton respectively from 24: on February 4, 22.
On the national average, 92 # gasoline is lowered by .33 yuan per liter; No.95 gasoline is lowered by .35 yuan per liter; # diesel oil is lowered by .35 yuan per liter. Based on the Corolla hybrid with a fuel tank capacity of 5 liters, it will cost 16.5 yuan less to fill a box of 92 # gasoline. At the same time, this price adjustment is the first significant downward adjustment in the domestic refined oil price adjustment window in 22.
This article comes from the author of Chejia, car home, and does not represent car home's standpoint.