The international oil price broke through the mark of $0/00 per barrel. When was the highest oil price in history? Let's discuss this problem below, hoping that these contents can help friends in need.
The highest oil price in the world was in 2008. As the most critical strategic resource and basic raw material in the world, the price adjustment of oil is influenced by many factors, such as supply and demand, exchange rate of clearing currency, international situation, market prospect of economic development, climate problems, stock market conditions and so on. Different countries and structures have contradictory views on oil prices.
Oil-producing countries and developed countries, represented by the Organization of Petroleum Exporting Countries, feel that today's international oil price has nothing to do with the fundamentals of supply and demand stocks, but is entirely caused by market hotspots. Al-badri, chairman of the Organization of Petroleum Exporting Countries (OPEC), believes that active speculative personal behavior is the "black fire" behind pushing up oil prices, and there will be no shortage of oil in the oil market. The current 53-day oil reserve level is enough to cope with the increase of energy supply in summer.
However, representatives of capitalist countries and major international oil companies represented by the International Energy Agency believe that the growing demand of developed countries is the primary reason for the persistently high oil prices, and the Organization of Petroleum Exporting Countries should upgrade its oil production and manufacturing level. High-tech enterprises that study recent oil prices feel that financial factors exceed product factors. As the US dollar is the key settlement currency for crude oil trading, the fall of the US dollar, the financial crisis and the stock market crash have stimulated speculative assets to enter the product market, including futures, and pushed up oil prices.
According to the demand, the three oil dilemmas in history caused the oil price to rise by 250%, 160% and 200% respectively in a short period of time, especially the first two dilemmas caused important damage to the global economy, caused the international economic depression and suppressed the oil demand. This time, the effect of soaring oil prices is limited. The global economy has not declined significantly because of high oil prices, and the global demand for oil is still strong. In particular, the increase in demand from oil-producing countries has become the main key to higher oil prices. According to the new world energy statistics of BP in 2008, the oil consumption market in the Middle East has increased by 4.4%, far exceeding the 2.3% increase in the Asia-Pacific region.
When was the highest international oil price?
The highest global crude oil price was in 2008.
Second, the analysis of the causes of rising oil prices
As the most important strategic resource and basic raw material in the world, oil price fluctuation is influenced by many factors, such as supply and demand, settlement currency exchange rate, geopolitics, economic prospect, climate change, stock market and so on. Representatives of different countries and institutions have different views on oil prices. Oil-producing countries and developing countries represented by the Organization of Petroleum Exporting Countries believe that the current international oil price has nothing to do with the fundamentals of supply and demand, but is entirely caused by market speculation. Al-badri, secretary general of the Organization of Petroleum Exporting Countries, believes that active speculation is the "black hand" to push up oil prices. The oil market is not short of supply, and the current 53-day crude oil reserve level is enough to cope with the rising energy demand in summer. Representatives of developed countries and major international oil companies, represented by the International Energy Agency, believe that the increase in demand in developing countries is the main reason for the increase in oil prices, and the Organization of Petroleum Exporting Countries should increase oil production. Exploring the reasons for the recent high oil prices, we believe that the financial factor exceeds the commodity factor. Since the US dollar is the main settlement currency for crude oil transactions, the depreciation of the US dollar, the subprime mortgage crisis and the stock market decline have stimulated speculative funds to enter the commodity market, including crude oil futures, pushing up oil prices.
Speculation of speculative funds is the most direct driving factor for the rise of oil prices.
From the data analysis since the beginning of 2 1 century, it can be seen that the speculative trading of speculative funds is an important reason for the sharp rise and fluctuation of international oil prices. There is a high degree of positive correlation between crude oil prices and non-commercial positions and net long positions for market speculation, with correlation coefficients of 0.89 and 0.8 1 respectively. Therefore, it is the financial leverage effect of the futures market that increases the energy of hedge funds, and the long and short positions between different funds lead to the trend of oil prices far from the relationship between supply and demand. According to the investigation of the Commodity Futures Trading Commission, 60% of the current crude oil price is caused by pure speculation.
According to the data released by the US Commodity Futures Trading Commission, in 2000, oil futures speculation only accounted for 29% of the total oil futures market at that time, but today it has risen sharply to 7 1%. Especially since 2003, the speculative funds of the overall commodity index in the futures market have increased from $654.38+0.3 billion to the current $260 billion, an increase of 2000%, an increase of 60% compared with the beginning of 2007; In the first 52 trading days of this year alone, the new speculative capital flowing into the commodity market was as high as 55 billion US dollars; The oil futures contracts owned by speculators have soared from 7 14 lots to 3 million lots today, an increase of about 4200 times. Since 2004, the number of funds entering the international oil futures market has increased from more than 4,000 to 8,500; Among them, * * * 595 hedge funds are trading oil, more than three times more than three years ago. The scale comparison between oil futures and physical commodity transactions in the New York Mercantile Exchange has tripled in four years, from 6 to 1 in 2003 to 18 now. If futures exchanges in London and Singapore, unregulated intercontinental exchanges, over-the-counter trading, index trading and derivatives are included, the proportion will increase. The normal operation of the oil futures market is disturbed by various loopholes, and there is unrestricted and imperceptible speculation, which far exceeds the healthy level aimed at providing liquidity and causes destructive price distortion.
The US Congress and relevant agencies have realized that speculative funds are manipulating oil prices, and the rising oil prices have brought more and more negative effects to the US economy, so they have to investigate and plan to take corresponding regulatory measures. On May 26th, according to the instructions of the U.S. Congress, CFTC announced a comprehensive investigation of the crude oil futures market to find out whether the international oil price has been manipulated. The preliminary investigation shows that speculative funds manipulate international oil prices through three possible paths: first, index funds, pension funds and some sovereign funds incite the entire international crude oil price and manipulate international oil prices through the over-the-counter market with a trading volume of 25%; Secondly, manipulate international oil prices through Platts Energy Information, a world-renowned private oil information provider; Finally, some large investment banks holding shares in oil companies, relying on their influence on Wall Street, issued bullish research reports, thus boosting international oil prices. CFTC is still studying and taking corresponding regulatory measures. On June 10, CFTC set up an advisory group, including energy professionals, exchange officials and major market participants-Lehman Brothers, Goldman Sachs, Merrill Lynch and other investment banks, to discuss the proposal put forward by some US lawmakers, that is, CFTC strictly limits the exemption of crude oil futures positions and gives this exemption to hedgers; However, it does not grant immunity to pure speculators, hoping to limit speculators' speculation on crude oil prices.
The continued depreciation of the dollar is the driving factor for this oil price increase.
Since 2002, the dollar has depreciated by more than 50%. Since the outbreak of the US subprime mortgage crisis in 2007, the Federal Reserve has cut interest rates seven times to stimulate US economic growth. The exchange rate of the US dollar against major currencies such as the euro continued to fall, and a large amount of funds flowed out of the US stock market and bond market, and flowed into commodity markets such as oil to seek preservation and appreciation, boosting oil prices. In 2007, the international oil price rose by 9.3%, while the dollar depreciated by 9. 1% against the euro. Since the beginning of this year, the impact of dollar depreciation on oil prices has weakened, but it still has great relevance. In June, for example, affected by American economic factors, the oil price fluctuated for four trading days, and the weakening of the US dollar boosted the oil price by 4.6 US dollars.
Geopolitics has deepened the market's concern about the stability of crude oil supply.
Local wars and terrorism around oil have never stopped. The American occupation of Iraq has not brought comprehensive peace to Iraq. Up to now, the domestic situation in Iraq is still turbulent and oil production is full of uncertainty. At the same time, the Iranian nuclear issue has triggered tensions, the Saudi oil pipeline has been threatened by terrorist activities, and conflicts in major oil-producing areas such as Nigeria have continued, further aggravating the market's concern about the interruption of local supply, thus giving speculative funds a good speculation theme. In June, a strike by Nigerian oil workers raised oil prices by $4.4. Israeli military exercises and remarks about Iran's nuclear facilities have rekindled market concerns about Iran's closure of the the Strait of Hormuz, and oil prices have risen by nearly $8.
The demand of oil-producing countries has increased greatly.
From the demand point of view, the three oil crises in history caused the oil price to rise by 250%, 160% and 200% respectively in a short time. In particular, the first two crises had a great impact on the world economy, leading to a global economic recession and curbing oil demand. This time, the oil price surge has limited effect, the world economy has not obviously declined due to high oil prices, and the global oil demand is still strong, especially the growth of oil-producing countries' own demand has also become an important driver of higher oil prices. According to the latest world energy statistics of BP in 2008, the oil consumption demand in the Middle East increased by 4.4%, far exceeding the 2.3% increase in the Asia-Pacific region.
Pork prices have fallen sharply.
Mainly because there are too many pigs, too many imported pork, the comparison between supply and demand, and the prices of related products and feed. It is the reason for the decline in pork prices.
Pig farmers in various places are affected by many factors.
When pig fattening is basically completed, it enters the pig fattening stage. At present, the supply of piglets in various places is seriously insufficient, which leads to the soaring price of piglets, which has reached an unacceptable level for ordinary pig farmers. If a large number of pigs are supplemented, the value of raising pigs will be gone, and the profit margin will be too narrow to be accepted.
As a result, pig farmers in various places gradually stopped raising pigs, and the focus of raising pigs shifted from raising pigs to fattening pigs. This will inevitably lead to the gradual increase of fattening pigs, and pig slaughter is imperative. In addition, the overall trend of pig prices in various places is downward. After pig fattening, the profit of slaughter in the early stage is always higher than that in the later stage. In this way, the number of live pigs gradually increased, the supply of live pigs in the market was sufficient, and the price of live pigs began to fall off a cliff.
Can replace enough pork products.
As the price of pork soared, many consumers turned to beef, mutton and chicken. , can replace pork, resulting in a substantial increase in the number of cattle, sheep and chickens. At present, the supply of other livestock and poultry products is still relatively sufficient, and the price has not risen sharply compared with the past. From the analysis of substitution effect, it indirectly leads to the decline of pig price.
To sum up, the price of pigs fell again and again. For consumers, relatively cheap pork will be available soon, which is also a trend in the future. For farmers, there is no need to worry too much about the decline in pig prices, because it is difficult for pig prices to fall sharply before the production capacity of pigs is restored. If it falls too much, it is not conducive to the recovery of pig production capacity.
At present, the supply of live pigs in the market is in short supply, which leads to a drop in pig prices, but this does not mean that there is no shortage of pork in the market, but that the high price of pork inhibits consumption. As far as the current number of live pigs is concerned, it is still an indisputable fact that the market is short of pigs. As long as there is no overcapacity of pigs, there will be no systematic decline in pig prices, and the profit of pig breeding is still considerable.
The price of pigs has fallen so much, why is it still falling?
However, the big pigs in the first stage and the cattle and pigs in the second fattening stage still exist to a certain extent, so they can no longer be raised and can only be sold at a loss.
Second, slaughter enterprises and China traders still keep prices down to ensure their operating profits.
Third, the production capacity of live pigs has continued to recover, basically returning to normal levels, and there is an expanding trend.
Price history of No.92 gasoline
The highest price of Shanghai No.92 gasoline was 8.33 yuan, which happened at 20 12. No.92 gasoline is 8.33 yuan, and No.95 gasoline is 8.87 yuan, which is the highest in history. 20 12 On March 20th, the National Development and Reform Commission raised the domestic gasoline and diesel price by 600 yuan/ton, and the retail price of No.93 gasoline across the country has basically exceeded 8 yuan/liter, setting a record high.
It only took more than a year from breaking seven to breaking eight. The increase of oil price has greatly exceeded the increase of price index. 20 12 1 1 month or so. The oil price once reached 8.06 yuan.
Specified index of gasoline
"Motor Gasoline" stipulates the density index for the first time, and its value is 720 ~ 775 kg/m3 at 20℃ to further ensure the relative stability of vehicle fuel economy. Compared with GB17930-2011,the main change can be summarized as "three minus two adjustments and one increase".
"Three reductions" means that the limit value of sulfur content index is reduced from 50μg/g in the fourth stage to 10μg/g, a decrease of 80%; Reduce the limit value of manganese mass concentration index from 8mg/L in the fourth stage to 2mg/L, and prohibit artificial addition of manganese-containing additives; The olefin content decreased from 28% in the fourth stage to 24%.
"Secondary adjustment" refers to the adjustment of steam pressure and brand. Among them, the lower limit of vapor pressure in winter is increased from 42kPa in the fourth stage to 45kPa, and the upper limit of vapor pressure in summer is reduced from 68kPa in the fourth stage to 65kPa, and Guangdong, Guangxi and Hainan are required to implement summer vapor pressure all the year round. At the same time, consider the fifth phase of motor gasoline.
Due to the decrease of octane number caused by sulfur reduction and manganese prohibition, there is a shortage of high octane number resources in China. According to the actual situation of refining industry, the standard adjusts the brand number of motor gasoline from 90, 93 and 97 to 89, 92 and 95 respectively.
China oil price over the years
The lowest oil price is 20 19.
The lowest time in the history of No.92 gasoline is 19. In recent 20 years, the lowest domestic oil price is 3.06 yuan a liter. The highest time appears at 20 12. 20 12 On March 20th, the National Development and Reform Commission raised the domestic gasoline and diesel prices in 600 yuan/