At 2:00 pm on November 16, No. 92 gasoline was increased by RMB 0.21/l

A few days ago, the National Development and Reform Commission announced that starting from 24:00 on November 16, 2017, the 21st oil product price adjustment window was opened: gasoline No. 90 was increased by 0.20 yuan per liter, No. 92 gasoline was increased by 0.21 yuan per liter, and No. 95 gasoline was increased by 0.22 per liter. Yuan, diesel No. 0 was increased by 0.21 yuan per liter. According to the estimated 50L capacity of a general household automobile fuel tank, it will cost about 10.5 yuan more to fill a box of 92 gasoline.

In this round of adjustment, domestic oil prices will welcome the largest increase during the year, with 265 yuan per ton of gasoline and 250 yuan for diesel. During the current price adjustment cycle for refined oil products (November 3 to November 16), international oil prices rose first and then fell, showing an inverted “V” shape. Among them, on November 6, Brent, WTI oil prices rose to the highest level since July 2015, respectively, $ 64.27 per barrel, $ 57.35. On average, Brent and WTI crude oil prices rose by 6.41% over the previous round of price adjustment cycles.

Subsequently, due to the sharp increase in crude oil production in the United States and the anticipated reduction in global crude oil demand, international oil prices have gradually declined. The U.S. Energy Information Administration (EIA) report shows that current U.S. crude oil production has increased to 962 million barrels per day, which is the highest level in the past 30 years. It is expected that the daily output of crude oil in 2018 will continue to increase to 9.95 million barrels. In addition, US shale oil has increased production for 12 consecutive months, and recently rose to a record level of 6.17 million barrels per day. On the other hand, the International Energy Agency (IEA) cut the global crude oil demand growth estimate for the past two years this Tuesday. This is an important factor supporting the recent rising oil prices. The reduction in demand has reduced investors’ resumption of rebalancing of the crude oil market. It is expected that the oil price will be under pressure.