International crude oil has risen sharply recently. Affected by this, the crude oil change rate referenced for domestic oil price adjustment is also rising. According to domestic refined oil price adjustment rules, a new round of refined oil retail price limit adjustment window will open tonight (24:00 on March 3), and domestic oil prices may usher in "eight consecutive increases."
According to statistics, after the implementation of this increase policy, it is expected that the retail prices of domestic gasoline and diesel will increase by a cumulative 1,450 yuan and 1,405 yuan per ton respectively. For ordinary people, this means that, taking a 50-liter fuel tank as an example, it will cost 10-11.5 yuan more to fill the tank after adjustment than before November 19, 2020.
After all, domestic oil prices have risen for eight consecutive years. Electric vehicle owners laughed, while fuel vehicle owners cried. When will the soaring oil prices end?
Why are oil prices rising? Things are changing. After March 2020, international crude oil futures prices plummeted to negative values, and the joke that "barrels are more expensive than oil" is still heard. After a year, oil prices continue to rise, causing drivers to complain endlessly.
In fact, the price of China's refined oil products is closely related to international oil prices. Every once in a while, the results of the rise and fall of refined oil products will be reflected in our daily oil prices.
The rise in oil prices has been affected by many factors. During this pricing cycle, cold wave weather in the United States led to a decline in crude oil production in the Permian Basin of Texas, and severe snowstorms caused oil producers to shut down production by 2 million to 4 million barrels per day.
As the world's largest crude oil producer, the United States' oil exports directly affect the fluctuation of oil prices. U.S. crude oil inventories have decreased significantly, and the market is in short supply, causing oil prices to rise all the way up.
Judging from the latest developments and news about international crude oil prices, as of the close of crude oil last Friday, U.S. crude oil futures prices closed at US$61.5 per barrel; Brent crude oil futures prices closed at US$66.13 per barrel. Among them, the Brent crude oil futures price is one of the reference indicators for the domestic oil price adjustment results. There is also the last round of price adjustment benchmark, that is, the reference international crude oil price average price is 58.37 US dollars / barrel. It is not difficult to find that the international crude oil price increased during the price adjustment period. The potential is obvious. West Texas Intermediate crude for April delivery settled at $63.53 a barrel on the New York Mercantile Exchange.
Some foreign media reported that OPEC+’s meeting this week is expected to cool the oil market by increasing production. There is widespread belief within the organization that the market will be able to absorb the additional supply. By then, international oil prices may still fluctuate. In addition, recent vaccination progress in various countries around the world has been good, and the spread of the virus has gradually been suppressed. This is good news for the global economic recovery and rising demand. This also contributed to the recovery of oil prices.