Domestic oil price adjustment rules: the adjustment period of refined oil products is 10 working days, that is, the oil price adjustment window will be opened after ten working days, and the working days do not include Saturday, Sunday and legal holidays.
Since 1998, China's crude oil pricing mechanism has been in line with international standards. At present, China's refined oil pricing mechanism is based on crude oil prices in three international markets. When the moving average prices of Brent, Dubai and Xinta crude oil in the international market change by more than 4% within 22 working days, the domestic refined oil prices can be adjusted.
The sales price of refined oil is determined by the price of refined oil plus domestic and international freight, refinery processing cost and profit, and circulation cost of sales links.
Summary of commonly used institutions and abbreviations in the international oil market:
1, Organization of Petroleum Exporting Countries: Organization of Petroleum Exporting Countries, founded in 1960, has 12 member countries, and its oil reserves account for 77% of the world's total oil reserves. It is an international organization that has the greatest impact on international oil prices.
2.IEA: The full name is the International Energy Agency, which is an international organization that coordinates and guides international energy work. Founded in 1974 and headquartered in Paris, France.
3.EIA: us energy information administration, a statistical agency under the US Department of Energy, aims to provide accurate and independent judgment, prediction and analysis for crude oil investors.
4.API: api gravity, an American oil industry organization, provides weekly important data on American oil consumption and inventory level, which was established in 19 19.
5.NYMEX: New York Commodity Futures Exchange, which mainly trades energy products. Trading methods are futures and options trading.