International oil price fluctuates narrowly, China’s gasoline and diesel prices remain stable

The international crude oil price fluctuated in a narrow range, the atmospheric and vacuum distillation unit load of the refinery was high, and the domestic product oil supply was sufficient, and the product oil price fell slightly. According to the monitoring data of the business agency, the gasoline price on October 16 was 5307 yuan / ton, down 0.86% from the beginning of the week; on October 16, the price of diesel oil was 4621 yuan / ton, down 0.04% from the beginning of the week.



Saudi Arabia cut crude oil prices in the middle of the week; demand for crude oil in Europe has been declining due to the impact of the new crown; Saudi Arabia has put pressure on OPEC and Russia to reduce crude oil production; EIA data show that US crude oil inventories fell by 3.818 million barrels in the week of October 9. The international crude oil market is intertwined with long and short news, and the international oil price is operating in a narrow range. WTI crude oil prices rose 1.28% and Brent crude oil prices rose 0.19%.


In terms of gasoline demand, the post holiday replenishment demand did not bring substantial improvement to the refined oil market, and the car travel decreased after the festival, the terminal demand decreased, and the overall performance of gasoline demand was poor. In terms of diesel, driven by downstream rush work after the festival, the demand is relatively strong. The demand for infrastructure construction and outdoor oil consumption increased. However, under the current abundant supply fundamentals, refineries mainly promote shipment.


On October 16, the average start-up load of the daily decompression unit was about 75%, and the start-up load of the refinery was maintained at a high level, and the domestic refined oil supply was sufficient.


Lu Xingjun, an oil product analyst at the business club, believes that: the lack of favorable international crude oil market will keep the international crude oil price under pressure; and the domestic refined oil supply is sufficient, and refineries have more sales promotion, and it is expected that the domestic oil product price will continue to decline steadily.

Gamma-PGA (gamma polyglutamic acid)

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