The oil market welcomes the first rise in the New Year: Europe and the United States are large, and domestic oil prices are expected to be large.
First, Europe and the United States are strong.
The European and American markets ushered in a strong market at the end of the year. With the signal of global economic recovery and the growth of energy demand, the supply and demand pattern has changed, making the highest level since the month.
According to data from December 26, the US WTI for February 2024 is ***201, closed at 75$57 barrel, up as much as 273%；Similarly, Brent *** 2 in February 202400, closed at 81$07 barrel, up 253%。The rally was significantly stronger than the performance of other commodities and ** around the world, showing the strong resilience of the ** market.
Second, domestic oil prices have soared, not far from the "first rise in oil prices of the new year".
At the same time, China's oil prices are also echoing**. According to reports, domestic oil prices are **529 per cent, at constant exchange rate adjustments** over 2 cents. It is expected that on the evening of January 3, 2024, we will usher in the "first increase in oil prices of the new year". Although it had just dropped "3 cents" before this, it is now about to rise again "2 cents". This is undoubtedly a test for consumers, and at the same time an external shock to the entire socio-economic environment.
Third, behind the **.
This oil price ** is caused by many reasons. First of all, the global economy is recovering, and the pressure on the demand side is much greater than that on the first side, prompting oil prices. In addition, due to the instability of the international political environment, including but not limited to war, geopolitical risks and other factors, the production capacity of oil producing areas is limited and the chain is tight. These are all important factors driving oil prices**.
Fourth, the market outlook.
It is expected that in the new year, the volatility of the ** market will continue, and the suppression of the new crown epidemic, the global economic recovery and the ** end pressure may jointly determine the trend of oil prices. However, on the one hand, the global production has not decreased, and the first end has a certain buffer capacity;On the other hand, the expected recovery of national economies will boost demand.
5. Impact on consumers.
Oil prices** will inevitably have an impact on consumers, especially car users and some industries that rely on petroleum products. As far as consumers are concerned, oil prices will directly lead to the cost of automotive oil, raise the cost of living for residents, and may also bring certain pressure to the operation of related industries.
6. How should we respond?
The challenges facing the national economy are undoubtedly great, especially in the new year, we need to find a way to deal with oil prices, which can be based on energy conservation, energy efficiency, energy independence and new energy development, etc., to reduce the negative impact of oil prices as much as possible. At the same time, the ministry should also provide appropriate policy support to help consumers and businesses through this difficult period.
In general, oil prices are an inevitable phenomenon accompanied by the global economic recovery, and to deal with these changes, we need the common wisdom and efforts of the whole society. I hope that in the new year, we will be able to respond to the various challenges we are facing and find the most effective coping strategies to achieve sustained and stable social and economic development.
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