Strictly speaking, the spot oil price in China is not linked. When the international oil price falls below $40, the oil price in China will not decrease. China is a superpower of oil import. Because of the nature of oil enterprises, low-priced oil is not accepted in China.

Spot price of oil in China: Because oil is linked to the US dollar (although it is linked to RMB recently, it still cannot shake the status of the US dollar at present) and the nature of domestic oil companies, the spot price of oil in China is not only related to crude oil prices and transportation prices, but also related to foreign exchange reserves and domestic policies. Generally speaking, spot prices are not linked.