Yesterday, the June crude oil futures settlement price on the New York Mercantile Exchange rose 0.23 US dollars to 118.30 US dollars a barrel, or 0.19%, while the ICE-6 Brent crude oil futures fell 0.38 US dollars to 115.57 US dollars a barrel, or gains It reached 0.33%, approaching the $120/barrel mark. Increasingly higher international oil prices not only allow the domestic refined oil giants to bear the risk of market inversion, but also make China's long-planned crude oil reserves far more operable. Experts said that if China purchases crude oil during the current sensitive period, The reserve will push up the international oil price, and if it does not purchase, when the price continues to chase high, it will be farther away from the target price of crude oil reserves.
The $130 mark is just around the corner. The industry generally believes that the $120 price will soon appear. Fan Xiaoping, Secretary General of the Guangdong Provincial Petroleum Association's Storage and Transportation Sales Committee, believes that due to some unstable factors in the international political situation and the arrival of summer, international oil prices will continue to rise. Breaking through the $130/barrel mark is just around the corner. If the international oil price falls, it may have to wait until the second half of the year or early next year.
The reporter learned that, as soon as this year was opened, international oil prices quickly broke through the 100-dollar mark, and eventually broke through 110 US dollars. At the end of last year, some investment banks predicted that the international oil price would be completely frustrated at 80-100 US dollars this year. In China, except for the oil giants that are subject to the risk of market inversion, the reserves of Chinese crude oil have also entered a predicament. China's strategic crude oil reserves will need to reach about 30 days by 2010, and the first phase of the China Strategic Petroleum Reserve Plan includes Zhejiang. There are four onshore oil reserve bases in Zhenhai, Zhejiang Zhoushan, Qingdao in Shandong, and Dalian in Liaoning, with a total reserve capacity of 16 million cubic meters. Currently, some crude oil has been injected, but it is far from the target. After the international oil price deviated from 100 US dollars, China’s crude oil reserves are also getting further and further away from acceptable prices.
It is difficult to understand the operation of crude oil reserves. It is understood that whether or not it is necessary to accelerate the purchase of crude oil as a strategic reserve. There are two factions in the industry. Yao Daming, minister of the oil and gas division of the Guangdong Oil & Gas Merchants Association, said that using international reserves of crude oil as a reserve is also a good value-preserving measure under the circumstances that international oil prices continue to innovate high and the U.S. dollar is weak. He said that China's oil imports have continued to increase, but there is no corresponding right to speak about international oil prices. This is because we have not been seriously involved in this high-risk international oil futures market, so we should quickly integrate into the international oil market. He believes that in the operation can learn from the successful experience of existing domestic futures companies, improve risk management, and gradually increase China's discourse in the international oil market, and ultimately allow the international market to reduce the risk of China's oil imports, an important channel for stable supply. .
However, Fan Xiaoping believes that because China's dependence on crude oil imports has reached 56%, if crude oil is purchased at this time, it will further push up crude oil prices and increase the cost of strategic reserves. He said that before purchasing strategic oil reserves, China needs to curb growth in oil demand, such as finding alternatives, coordinating the development of the transportation and petroleum industries, and releasing China’s signals of lower dependence on oil to international markets at lower prices. Segment purchases, for example, wait until the oil price falls back to 70-80 dollars, it should be a good time.
The $130 mark is just around the corner. The industry generally believes that the $120 price will soon appear. Fan Xiaoping, Secretary General of the Guangdong Provincial Petroleum Association's Storage and Transportation Sales Committee, believes that due to some unstable factors in the international political situation and the arrival of summer, international oil prices will continue to rise. Breaking through the $130/barrel mark is just around the corner. If the international oil price falls, it may have to wait until the second half of the year or early next year.
The reporter learned that, as soon as this year was opened, international oil prices quickly broke through the 100-dollar mark, and eventually broke through 110 US dollars. At the end of last year, some investment banks predicted that the international oil price would be completely frustrated at 80-100 US dollars this year. In China, except for the oil giants that are subject to the risk of market inversion, the reserves of Chinese crude oil have also entered a predicament. China's strategic crude oil reserves will need to reach about 30 days by 2010, and the first phase of the China Strategic Petroleum Reserve Plan includes Zhejiang. There are four onshore oil reserve bases in Zhenhai, Zhejiang Zhoushan, Qingdao in Shandong, and Dalian in Liaoning, with a total reserve capacity of 16 million cubic meters. Currently, some crude oil has been injected, but it is far from the target. After the international oil price deviated from 100 US dollars, China’s crude oil reserves are also getting further and further away from acceptable prices.
It is difficult to understand the operation of crude oil reserves. It is understood that whether or not it is necessary to accelerate the purchase of crude oil as a strategic reserve. There are two factions in the industry. Yao Daming, minister of the oil and gas division of the Guangdong Oil & Gas Merchants Association, said that using international reserves of crude oil as a reserve is also a good value-preserving measure under the circumstances that international oil prices continue to innovate high and the U.S. dollar is weak. He said that China's oil imports have continued to increase, but there is no corresponding right to speak about international oil prices. This is because we have not been seriously involved in this high-risk international oil futures market, so we should quickly integrate into the international oil market. He believes that in the operation can learn from the successful experience of existing domestic futures companies, improve risk management, and gradually increase China's discourse in the international oil market, and ultimately allow the international market to reduce the risk of China's oil imports, an important channel for stable supply. .
However, Fan Xiaoping believes that because China's dependence on crude oil imports has reached 56%, if crude oil is purchased at this time, it will further push up crude oil prices and increase the cost of strategic reserves. He said that before purchasing strategic oil reserves, China needs to curb growth in oil demand, such as finding alternatives, coordinating the development of the transportation and petroleum industries, and releasing China’s signals of lower dependence on oil to international markets at lower prices. Segment purchases, for example, wait until the oil price falls back to 70-80 dollars, it should be a good time.
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