Surprised, why did the oil price go up again?
Because on the first trading day in April, Saudi Arabia and other oil-producing countries in the Middle East and North Africa announced that the voluntary production reduction scale was about1160,000 barrels per day, plus 500,000 barrels per day extended by Russian production reduction measures, by the end of 2023, the total production reduction scale of OPEC+will exceed160,000 barrels.
This is another major measure for OPEC+to reduce production by 2 million barrels per day in the future following the uncertainty of the global economy and oil market in June 2022.
After half a month's market evolution, the international oil price rose on 14. As of the close of the day,
The futures price of light crude oil for May delivery in the New York Mercantile Exchange rose by 0.36 US dollars to close at 82.52 US dollars per barrel, an increase of 0.44%;
London Brent crude oil futures for June delivery rose 0.22 USD to close at 86.3/kloc-0 USD per barrel, with an increase of 0.26%.
Then the question is, why should the oil price in China rise accordingly?
The price adjustment window of China oil price depends on the increase of international oil price. According to the Measures for the Administration of Petroleum Prices issued in June 2065438+2006, Article 6 clearly stipulates the pricing of domestic refined oil market, namely
1) When the crude oil price in the international market is lower than USD 40 per barrel (inclusive), the refined oil price shall be calculated according to the crude oil price of USD 40 per barrel and the normal processing profit rate.
2) When the price is higher than $40 per barrel and lower than $80 (inclusive), the price of refined oil is calculated according to the normal processing profit rate.
3) When it is higher than $80 per barrel, the processing profit rate is deducted until the refined oil price is calculated according to the processing zero profit.
4) When the price is higher than $0/30 per barrel (inclusive), according to the principle of giving consideration to the interests of producers and consumers and maintaining the stable operation of the national economy, appropriate fiscal and taxation policies shall be adopted to ensure the production and supply of refined oil, and the prices of gasoline and diesel oil shall not be raised or lowered in principle. "
According to the above standards, with the international oil price rising above the critical value of $80 per barrel at the close of 14, the rise of domestic oil price is imminent.
I hope my answer is helpful to you!