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Oil Prices to See 1st “Quintuple-drop”

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2014-09-30 14:09:35 来源:大连商品交易所网站 

  On the 29th of this month, the window for oil price adjustment will open again. After the first quadruple-drop, the institutions predicted that the oil prices will record the first “quintuple-drop” in the history. Those planning the self-driving travels during the National Day holiday can wait until September 30 for refueling.

  Although crude oil futures prices edged higher recently, due to the ample supply and unlikely recovery on the international market, the short period will not possibly see substantive increases. With regard to the endlessly falling oil prices, Meng Peng, an analyst in refined oil with www.chem99.com, said that Libya's largest oil field has recently resumed production, with less and less positive information bolstering the international oil prices. And the news of weak demand for oil in the world has continuously weighed on the international oil prices.

  Affected by this, in this pricing period, the rate of change for crude oil prices has continued to decline. As of yesterday, the rate estimated by www.chem99.com fell to -2.21%, equivalent to a decrease of RMB 135 / ton for the limited price of petroleum products. Meng said that if there is no unforeseen circumstance, the limited prices of domestic petroleum products will be adjusted down again next week, representing the first “quintuple-drop” since the introduction of the domestic refined oil pricing mechanism and a new record of straight declines.

  Domestically, since early 2014, the poor economic performance has affected all the sectors such as engineering, infrastructure and transportation that have seen the lower operating rates for the oil-consuming projects, leading to the poor demand for oil at ends especially the diesel oil. With relatively abundant supplies, the imbalance between supply and demand in the market has been the main cause for declining gasoline and diesel prices and the downward market trend.

  According to estimates of www.315.com.cn, as of yesterday, the seventh working day of the pricing period, the rate of price change for the reference crude oil products was -2.66%, equivalent to decreases of RMB 130 to 160 / ton. Thus, at the end of September the retail prices cut will be realized, with the decreases expected to be higher than those in the previous two pricing periods at about RMB 170 / ton. Meanwhile, the website of www.oilchem.net expected the decrease at RMB 180 / ton. This means that the decrease of gasoline price will be more than RMB 0.1 per liter again.

(责任编辑:HF047)

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