In the turbulent global financial market, ** has been attracting the attention of the world with its unique status and huge influence. As the "barometer" of the global energy market, every fluctuation of * tugs at the heartstrings of countless investors, and is also related to the stability and development of the economies of various countries.
China, as the world's second largest economy and the world's largest importer, naturally plays a pivotal role in this game. In recent years, China's leading market has experienced leapfrog development from scratch and from small to large, which has not only become an important pole of the global market, but also provided strong support for the steady development of China's economy.
In 2023, the turnover of domestic *** will be 288 trillion, although it has declined compared with the peak in 2022, it still ranks first in the turnover of the domestic ** market. So next, let's unveil the mystery of China's first-class market in 2023 and review the changes and opportunities in China.
Before the market in 2023, we first need to understand the basic concepts and contract elements.
*Also known as "black gold", it is a liquid hydrocarbon extracted directly from underground natural oil reservoirs, usually in a flowing or semi-flowing viscous state. It is mainly composed of carbon and hydrogen, accounting for 96%-99%, while the total content of sulfur, nitrogen, oxygen and trace elements usually does not exceed 1%-4%. Usually through the fractionation of ** "cutting", according to the different fractions, you can get gasoline, kerosene, diesel, lubricating oil and other semi-finished products of petroleum products.
Petroleum fractionation unit **Wenxin Yiyan.
The domestic *** contract with "medium sulfur **" as the subject matter not only provides investors with a way to hedge, but also becomes a powerful tool for speculative trading. The peculiarity of this ** variety is that it is denominated in RMB, and the trading unit of each lot is set at 1,000 barrels, and the minimum change unit of ** is fine to 0. per barrel1 RMB. It is worth mentioning that the delivery month of the contract covers January to December of the year, which means that investors can choose different months of contracts to trade according to market demand, which meets the hedging and investment needs of investors in different maturities.
Straight Flush**Pass Screenshot Date: January 29, 2024.
Entering 2023, the domestic market has experienced a series of changes. From the wide range at the beginning of the year, to the unilateral adjustment at the end of the year, the market trend can be described as twists and turns. Next, we'll look back at the market** for the year and the context of the market at the time.
Master Boyi.
1.From January to the end of May, wide**. During this period, the weighted power fluctuated between $520 and $580, with the power of the bulls and bears relatively balanced, and the market direction was uncertain. However, by the end of March, the calm of the market was broken, and the weighted market fluctuated wildly, falling to 481 at one pointThe low point of 1 yuan caused a panic in the market. But then **quickly**, showing the inherent resilience of the market; Entering April, the market ushered in a wave of strength, with a weighted increase of 8 on April 300%, the main contract rose by 823%。On the ** chart, a big white line with momentum like a rainbow is close to the upper rail of the ** range, and then the bulls continue to exert their strength, and there is a great tendency to hit the 600 yuan integer mark. Although the weighted finally failed to effectively break through the 600 yuan mark, the strong performance of the market is impressive. It is worth noting that on April 2, 0pec+ announced its first production cut plan of the year - a total of 1.66 million barrels per day from May to the end of 2023.
2.Entering June, the market ushered in a unilateral market.
Starting from June 1st, **all the way**, the increase was as high as 40%. On the chart, the bullish candles continue to push upward, and the market has hardly appeared decent. Even when sprinting to the 600 yuan mark, it is not dragging its feet. On July 28, the ** market ushered in a wonderful game. **Weighted day directly gapped, opening at 6041 yuan, closed at 6077 yuan, and finally ended in the form of a gyroscopic line on the day**, which is like a banner on the battlefield, flying high above the 600 yuan integer mark, showing the determination and strength of many parties.
*Weighted in the gyro line on July 28 **Boyi Master.
In late August, the market quickly launched another offensive after a short period, forming a trend of accelerating to the top, and hit 717 on September 15The highest point of the year at $2. Recall that on June 4, the second meeting of 0PEC+ announced the extension of the production cut plan until the end of 2024, while Saudi Arabia and Russia also announced additional production cut plans.
3.From late September to mid-December, the increase is as high as 25%. Entering the second half of September, the trend of ** ushered in a turning point, the early broken step of the small yang line gradually faded, replaced by a series of steep ** yin line, as if the warm autumn sun was covered by thick dark clouds, this market atmosphere has spread to the winter of mid-December.
September 15th time-sharing chart **Boyi Master.
On September 15, the ** market presented a wonderful long and short game. On the main time-sharing chart, the bulls seem to have an absolute advantage, and they climbed rapidly, rising by more than 4% at one point. However, this was only a flash in the pan. The bears did not rest on their laurels, they quickly counterattacked, turning the tide with lightning speed. In a short period of time, ** quickly lowered, like a sudden rainstorm, which instantly extinguished the enthusiasm of the bulls. In the end, a long upper shadow line was left on the day**.
The main force in China on September 15 is the long film **Boyi master.
The long upper shadow on the main contract day seems to tell a story about the temptation and reversal. The bulls originally thought that they could break through the bears' defenses in one go, but they did not expect that this was just a trap set by the bears. It is also like the trailer of a suspense blockbuster, telling the market about the upcoming thrilling plot. Subsequently, the market went all the way, and the bears completely gained the upper hand.
The tombstone line of the main force in China on October 9 **Master Boyi.
Entering October, the return of the National Day holiday did not bring a turnaround in the market. On the contrary, on the day of October 9th, ** weighted followed the gap of the external market to open low, and a huge low opening gap seemed to fall from the sky, approaching the falling limit, and the bulls were almost powerless at this moment.
The four consecutive declines of the domestic main force in early November **Boyi master.
On November 7, ** weighted suffered another heavy blow. In just four trading days, it fell by more than 8%. It wasn't until December 13 that this long and brutal *** finally came to an end.
Looking back at this stage, each black candlestick on the chart shows the strength and determination of the bears. The continuous appearance of the long black candle, the gap that gaps low, and the weakness of the weak yang candle all constitute the unique memory of this **. At this stage, the actual effect of OPEC+ production reduction was generally less than expected.
At present, the mainstream spot varieties mainly include Brent**, WTI**, Dubai** and OPEC package oil. These varieties occupy an important position in the global ** market and are widely used in ** pricing and trading. Among them, Brent and WTI are the two most representative, and their changes have an important impact on the global market.
In addition, with the continuous development of the global energy market, some new spot varieties have gradually emerged, such as China's first spot.
2023 Brent**, WTI**, China*** Straight Flush ifind
These spot varieties occupy an important position in the global market, and China, as one of the world's largest importers, has a high degree of dependence on foreign countries.
Looking back on the development in recent years, China's leading market has achieved significant growth. Although in 2020, the total domestic turnover accounted for only 273%, ranking 13th among ** varieties, is not outstanding. However, starting in 2021, there has been a significant growth trend in this number. By the time of the 2021 annual settlement, ** had jumped to 7th place in terms of total turnover. What's even more remarkable is that in 2022, it began to jump to the top of the ranking in terms of turnover, and this leading position will continue to be maintained in 2023.
Although the *** contracts of exchanges such as NYMEX and ICE have a wide influence on the world, their trading volume is huge, providing an important reference for the discovery of the global ** market. However, it is worth taking pride that after five years of rapid development, China's Shanghai contract has become the third largest contract in the world, highlighting China's rise in the global market.
The domestic market provides enterprises with hedging tools, so that enterprises can lock in future procurement, thereby reducing business risks. In addition, the development of China's leading market is also expected to enhance China's influence in the global pricing system and improve its bargaining power over the world. With the gradual maturity of the RMB denominated and settlement market, this will also promote the international use of RMB, promote the process of RMB internationalization, and further demonstrate China's important position on the global economic stage.
After reviewing the changes in China's *** market in 2023, we can't help but be proud of China's achievements in this field. From the wide range at the beginning of the year to the unilateral adjustment at the end of the year, although the market has experienced twists and turns, its position as the leader of the domestic market is still stable.
By actively building and improving the world's leading market, China not only provides enterprises with hedging tools and reduces operational risks, but also enhances its influence in the global pricing system and improves its bargaining power in the world. Let us look forward to the wonderful performance of China's leading market in the future, and believe that it will continue to write a brilliant chapter belonging to China!