SunSirs: Poor Demand, China Domestic Refined Oil Market was Down
Recently, the price of domestic oil products has gradually dropped. The price of domestic 92# gasoline is 7,900.6 yuan / ton, and that of domestic 0# diesel is 6,144.6 yuan / ton. The main factor is the poor demand of the consumer side, and the price of upstream crude oil has fallen. Affected by this, the price of domestic oil products has declined.
Recently, the price trend of refined gasoline and diesel oil in Shandong Province has fallen down. At present, it is in the traditional off-season of consumption. Recently, the high temperature and rainy weather continue in many places. The infrastructure projects and logistics transportation in the downstream are generally under construction. The resource consumption of diesel terminal demand has decreased significantly. The sales of main companies are poor. The market shipment situation is poor. The price trend of diesel oil market has declined. There is a lack of favorable support for gasoline, and the car travel rate of the people keeps a stable trend. Under the bad influence of the lower crude oil price, the price of gasoline market is under pressure, the acceptance of the middle and lower reaches is not high, and the price of gasoline market has come down. Recently, the price of crude oil market has declined. In addition to the poor trading situation, the price trend of domestic oil products has declined.
Recently, the average operating load of atmospheric and vacuum distillation units in domestic main refineries is about 77%. In July, the operation of main refineries is stable with little change in supply.
SunSirs refined oil analyst said that the recent international crude oil prices had bad influence, and the policy of OPEC+ oil producing countries finally fell to the ground. The oil minister of oil producing countries agreed last Sunday to increase oil supply from August. In addition, under the background of COVID-19’s severe trend, variety and spread speed, the international crude oil shock intensified. In addition, the price of domestic oil products is at a high stage, and downstream users have a certain resistance to high prices, and there may be a downward trend in the later stage.