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How to play Chinese oil price war

How to play Chinese oil price war

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2020-03-31 14:57
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How to play Chinese oil price war

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

Oil as a non-renewable energy on the earth, but also had a reputation of "black gold", it not only as a commodity in the world trade flows, but also has the economic and political attribute. Have been circulating on the market "who controls the oil, is to control the world," this sentence. So, around the battle for oil in the energy interests moment on the stage, and the wind and cloud.

If you want to obtain higher international status by oil and more interest, you have to get the pricing power of oil! And the price of any goods are made by the two aspects of demand and supply factors in itself. Want to be in such a wide global front, such a macro view of the battlefield information on the pricing power of oil runoff talk easy? Today the competition of global oil has appeared the situation of "three world", the United States, Russia, Opec firmly grabbed 75% of the world's oil production, is worthy of the "big three" of oil.

With the continuous development of China's economy and dependence on oil is rising, the contradiction between supply and demand of a growing force China to a large number of imported crude oil, now China has become the world's first consumer and importer of crude oil! Unfortunately, China's oil pricing power is very limited, and now this power does not match! Due to too many factors limit, China's oil pricing power, the competition has been struggling of 7).

Since there is no oil pricing power, China's oil imports in others easily. In frequently, more buy more expensive imported oil, add oil import prices higher than international average, resulted in the unnecessary loss of foreign exchange. Oil import prices are too high, and can lead to the "chain reaction" of the society as a whole. In the long run, China will easily become the victim of oil under the financial war! Urgent, China petroleum assembly which blows!

How can China compete for their seats in the oil price war, it is difficult to from a single Angle, but the first step to develop strategic oil to solve three problems: first, the settlement of the problem; Second, the oil source channels; Third, the reserves of oil.

1, the settlement of the problem

The government over the years of unremitting efforts, the October 1, 2016 will be formally incorporated into Special Drawing Rights (SDRS) currency basket. Include the yuan in the SDR is not only a recognition of China's economic opening, also for the renminbi to the international trade settlement way has the vital significance, for China's oil in future war can reduce the exchange rate changes and bring unnecessary losses!

2, oil source channel

The oil supply end of the current pack, in addition to the United States, Russia, Opec countries, Brazil production risheng, Iran will also break the "limit", join the current war. Now the situation for China is like a god, crude oil "supplier" appeared diversified choice of the pattern, so the oil source channel selection are also diverse, coupled with the continuous innovation of current oil prices low is the "supplier" for "USES" reduction results of the market, and China is now the world's first oil importer, increased oil purchase price negotiating ability.

Saudi Arabia has always been China's oil imports for the first big exporter, but often want phenomenon for China, makes China's strategic oil road twists and turns. Later, the situation changed, because the influence of European and American sanctions against Russia policy, Russia and China to achieve the cooperation in the field of energy, to replace the Saudi Arabia as China's first oil supplier.

Due to China's imported oil source of diversification, Russia is very difficult to become China's largest supplier of crude oil in medium and long term, Iran in the ranking of Chinese imports could rise, Brazil has become the partner, the possibility of the United States also have, whose price is moderate, as long as I can find who buy! After all, the world's first big customer is god!

3, the reserves of oil

Foreign oil import dependence is high, the lack of strategic oil reserves, world oil prices led to China in establishing intervention table lack enough confidence. So to solve the problem of insufficient oil reserves is the present China set out to solve the problem.

Strategic petroleum reserve of China mainly includes 3 phase, a phase of the reserves of 100 million barrels, already all full at present, the second phase reserves of 168 million barrels, is currently in the process of accumulation, and the three phase of the project is under construction, is expected to reach 232 million barrels of oil reserves, the three phase of the total reserves will reach more than 500 million barrels a day. At present China's strategic reserve capacity has reached the net imports of 60 days, 90 days' safety and gap, after completion of all the three phase is expected to basic level of net imports up to 90 days. Now the oil price had fallen to about $35 a barrel of the 2008 financial crisis levels, now a good time of sharply lower oil absorption, China's national energy administration has stepped up bought oil, it seems, the completion of national strategic reserves just around the corner.

And China upon completion of strategic oil reserves, so will be the carrier level of inventory, once the carrier reserve level and future tonnage will change to a large extent affects the trend of oil prices.

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