Suddenly!Plunging, countdown to price cuts

Mondo Technology Updated on 2024-01-31

International oil prices have plummeted, resulting in an increase in the probability of this round of refined oil ** reduction. According to today's latest data, oil prices have fallen below the red line, and oil prices, which just experienced the first rise of the new year last week, are hopefully ushered in the upcoming price adjustment.

According to Jinlianchuang's calculations, as of the fourth working day on January 9, the average price of the reference ** variety was 7502 USD barrels, with a rate of change of -100%, the corresponding domestic gasoline and diesel retail price should be reduced by 50 yuan tons, to meet the reduction standard. International *** On Monday, WTI *** fell 412%, the biggest one-day drop since November 16 last year. Saudi Arabia downgraded sales to all regions, igniting concerns about the outlook for oil demand. Brent** also posted its biggest one-day drop since December 12 last year.

On the news side, on January 8, Saudi Aramco said that it would cut the official selling price for all regions in February, including Asia, the company's largest market. Saudi Arabia**, which includes its flagship Arab Light**, will have its spread cut to a local benchmark of up to $2 per barrel. It is worth mentioning that Saudi Aramco's pricing is the benchmark for Middle Eastern oil producers, which means that other major oil producers in the Middle East will traditionally follow Saudi pricing. Francisco Blanche, global head of commodities and derivatives at Bank of America, said: "* a lot, while demand is decelerating, and our interest rates have risen significantly, which is really slowing economic growth. I think these factors have combined to lead to lower oil prices. ”Refined oil is expected to usher in a sharp fall affected by the sharp drop in international oil prices this morning, today's decline increased by 35 yuan tons, and the current rate of change: -100%, it is expected to reduce the oil price by 50 yuan tons, and the discount price is expected to be **004 yuan liter-005 yuan liters. If the decline in international oil prices continues to increase, then there is a possibility that oil prices will fall sharply. On the evening of January 3, oil prices were adjusted for the first time in the new year, ending the "six consecutive declines" and ushering in the first time in three months. After the price adjustment on January 3, No. 95 oil has risen back to the figure 8.

On January 8, a survey was released showing that OPEC members increased production in December, with increased production in Iraq, Nigeria and Angola offsetting production cuts by Saudi Arabia and other OPEC+ members. On January 8, last week's ** activity forced Libya to shut down the Sharara oil field. The closure of the field caused Libya's total oil production to fall from about 1.2 million barrels per day to 98 percent on Friday, analysts at ING said10,000 barrels per day. On Jan. 8, Yemen's Houthi rebels launched an attack on shipping in the Red Sea, forcing a diversion and raising fears that the broader conflict could further threaten the flow of oil in the Middle East. Just now, Bi Mingxin, an analyst at Jinlianchuang, pointed out that these changes are believed to stimulate demand for the United States, help narrow the discount of WTI to Brent, and may make American exports break records. But there are also sources who say that for now, oil traders seem to think that "geopolitical risks don't affect **, if they do**, but demand is weak, so it doesn't matter".

At 24 o'clock on January 3, the retail price of domestic gasoline and diesel was raised by 200 and 190 yuan tons, according to the principle of "ten working days", the window for this round of price adjustment is 24 o'clock on January 17.

Photo by Business Daily reporter Fang Weiwen.

Duty Editor: Shi Zhuoni.

Review: **Shi Ying Wu Wei.

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