搜索
Search

NEWS 

News center

这是描述信息
/
/
/
China has the ability to dominate international oil prices in a few minutes

China has the ability to dominate international oil prices in a few minutes

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2020-03-31 14:57
  • Views:

China has the ability to dominate international oil prices in a few minutes

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2020-03-31 14:57
  • Views:
Information
China can buy and sell millions of barrels of crude oil in a few minutes through its major oil traders, which has been a growing market power, and other traders are often forced to follow the price of their agreement.
Since October last year, China's large oil traders have several times to dominate the market. Earlier this month, the China National United Oil Corp through the Asian major pricing mechanism, in only 30 minutes to buy 5000000 barrels of crude oil. The pricing mechanism is organized by the "Platts global energy news". China United oil is the Chinese oil and gas group company and China National Chemicals Import and Export Corporation jointly funded the formation of the oil foreign trade companies.
As oil production reached a record high, global demand slowed, and market power shifted to large consumers. China's major oil traders and the Chinese joint oil can choose the best bid, and the oil price is low.
"The oil supply security, China is increasingly valued the problem is whether to become a price maker, and to participate in the global supply chain," said Meidan China, director of Matters Michal.
With lower oil prices, China will challenge the United States as the world's largest oil buyer. 1-7 this year, the number of Chinese crude oil purchased from the same period last year increased by nearly 11%.
With the current crude oil of about $50 per barrel, China's imports of about 200000000 barrels of crude oil per month, from the last summer, when the oil price to $115 to $23000000000, down to $10000000000.
"Dodge"
China has gradually become a price maker from the price, and the daily oil is the most obvious in the transaction.
China Petroleum and Chemical Corporation's trading company jointly petrochemical Unipec and China United Oil Company Chinaoil often dominates daily transactions, the number more than by Western oil firms handled the transaction number.
"The train is coming, don't just walk away." Asian refinery traders said. "We like this small shrimp is easy to roll."
Economic growth over the past 10 years not only to make China a major importer of crude oil, but also turned into a major exporter of refined oil. By the rapid growth of the potential, Sinopec and PetroChina have been from the passive oil importers, the development of experienced crude oil and refined oil traders.
Company sources said that since the second half of 2014, PetroChina and Sinopec have to be promoted to senior management of crude oil traders, replaced with planning and refining management background of executives.
Sinopec and PetroChina did not comment on the transaction related matters.
The two Chinese oil trading giant trading volume is huge, physical crude market Asian index price discovery mechanism, namely Dubai Platts closing price (market on close, MOC) caused a lot of pressure.
In the many traders called the Platts window and the traders of the dosage increase often let other participants almost no space to participate in trading of crude oil pricing process.
"I and many other people are concerned that the impact of this move, the Dubai market does not reflect the market price of crude oil in the Middle East," said Berentsen Oystein, managing director of the Singapore Strait petrochemical industry.
In addition, the Chinese government is relax slowly to import market regulation, to independent refineries granted more buy licenses for overseas oil. This not only further improve the Middle East physical crude demand, also improve on major international crude oil futures, Brent crude oil futures LCOc1 and the United States crude oil futures CLc1-- demand.
"Granted the oil import license to relax the control of the Chinese oil industry. It also helps to increase demand for light oil, "said the report of the report of the customer, which is due to the customer.
"Therefore, this may help to support the United States crude oil futures and Brant crude oil futures, these two are light oil."
这是描述信息

ADD:Hebei Langfang City Yonghua Road No. 148-2
FAX:
0316-2781891
E-mail:lfjfy@126.com

这是描述信息
这是描述信息

Copyright Langfang jinfengyuan Petroleum Equipment Co., Ltd. All Right Reserved Powered by www.300.cn  冀ICP备09023940号-4