Domestic oil price adjustments were lowered last Monday, with gasoline and diesel retail prices lowered by 0.14 and 0.15 yuan respectively. After the new oil price statistics were launched, the corresponding amount of oil price adjustments continued to show a downward trend. As of last Friday, it had a cumulative decline of 380 yuan/ton, and the retail price decline was approximately 0.31-0.32 yuan/liter. The forecast decline was only lower than the 0.43 and 0.45 yuan/liter on April 15 this year, causing the oil price adjustment to show a downward signal again. The detailed price adjustment time was 24:00 on December 5.
In the week before, international oil prices experienced OPEC+ increase of 500,000 barrels per day, rising US gasoline inventories, and multiple suppression of the G7's upper limit of Russian crude oil prices, with a weekly decline of nearly 5%, the third consecutive week since September, and fell below the new low since January last Monday, set on September 28.
Due to the large differences in pricing of the upper limit on the price of Russian crude oil, EU has not reached a consensus on this upper limit, and consultations will continue on Monday. Market news shows that the upper limit of the sea-freighted Russian crude oil discussed by various countries is about US$65-70 per barrel. According to the import prices of some Indian refineries, the current sales price of Russian crude oil is about US$25-35 per barrel compared to Brent crude oil. Currently, the price of Brent crude oil is US$83 per barrel.
0 The EU has banned the import of Russian crude oil pipelines. The embargo on Russian sea-transported crude oil will take effect on December 5, and will also embargo on Russian refined oil on February 5 next year. The upper limit of Russian crude oil price is also planned to begin on December 5.
It is obvious that the current price ceiling is even higher than Russia's current sales price, which means that major European shipping insurance companies will continue to provide insurance services to Russian crude oil sales, which will not cause a decline in Russian crude oil production at all, and there will be almost no impact on crude oil market supply.
In addition, the U.S. Department of Energy announced on November 23 that gasoline inventory increased by 3.1 million barrels to 211 million barrels in the week of November 18, and analyst was originally expected to increase by 383,000 barrels, and distillate oil inventory increased by 1.7 million barrels to 109.1 million barrels. Price Futures Group senior analyst Flynn said that the growth in gasoline inventory exceeded expectations, which may indicate that demand is declining.
data shows that the US refined oil supply recorded 20.7 million barrels in the previous four weeks, and increased by 0.1% year-on-year compared with , but gasoline supply recorded 8.7 million barrels per day, a decrease of 7.0%, distillate oil supply fell to 4 million barrels per day, a decrease of 3.5%, and aviation kerosene supply was 1.5 million barrels per day, a decrease of 2.4%.
However, Saudi and Iraq reiterate support for OPEC+ production cuts, and said OPEC+ will continue to reduce production until the end of 2023, and OPEC+ is still ready to intervene when necessary to balance supply and demand. Affected by the above remarks, international crude oil prices have undergone a significant reversal, but the US and Brent oil are still at a new low at the end of September.
November 28th National gas station retail price of gasoline 92, 95 and 9 in the country
