At first glance, it seems so, but on reflection, something is wrong. This $60 is the current price of the international crude oil futures market, which has the function of price discovery and is often ahead of the spot market. At present, the crude oil market is in a downward trend. In the downward trend, futures prices are generally lower than spot prices. Some people say that no matter how low it is, it cannot be so low. There is a big difference between 90 dollars and 60 dollars. However, the international crude oil price has been falling all the way, and the price in 165438+ 10 is obviously higher than now. After understanding, we know that the price stipulated in the Sino-Russian long-term crude oil trade agreement is calculated by a complex formula based on Brent crude oil price. China had a long and arduous negotiation with Russia because of the parameters of this formula, and finally Russia made major concessions due to the depression of the international crude oil market. Brent crude oil futures trading is conducted on the Intercontinental Exchange (ICE) and the American Mercantile Exchange, which is the benchmark of oil price in the current market. The international oil price of $60/ton mentioned in the news refers to Brent crude oil futures price.
Brent crude oil futures trading can be delivered on 15 of the delivery month, and customers can choose cash delivery or spot delivery (cash transfer). For cash delivery, choose the Brent futures trading price (usually the closing price) one day after 15 for delivery. Therefore, the price of this day is very important and is usually used for reference by spot contracts. Generally speaking, since transactions often start at the beginning of the month, spot prices are mostly calculated based on the delivery price of last month. The chart below shows the one-year trend of Brent crude oil futures price. We can see that the delivery price of Brent crude oil futures in June 5438+ 10 is 86.76.
Dollar/barrel. The price calculation formula of Sino-Russian crude oil long-term agreement has not been published, so we have no way to know the specific price of Sino-Russian crude oil trade in June, 5438+0 10, but according to the delivery price of Brent crude oil in June, 5438+00, plus tax and freight, 90 US dollars/barrel is a normal price, and we have not lost money, let alone sold our country. In fact, it is ridiculous to compare the request for price reduction with previous transactions and say that this is a huge loss.