News guidelines are limited, refined oil market outlook is hardly optimistic

The recent international crude oil prices in the market for the cut agreement may be extended for 9 months optimistic expectations of speculation in the atmosphere continued to rise, in addition, both US crude oil inventories and production are also reduced to provide upward support for oil prices, crude oil futures prices rose sharply last week The The week has more oil-producing countries agreed to extend the deadline for the agreement, and Saudi Arabia and Russia issued a joint statement that the two countries will extend the cut-off period of 9 months to reach a consensus on the market, the market is expected to delay the expected bullish expectations , To provide upward support for oil prices. Affected by this, the current rate of change in the positive range of continuous extension.

According to the calculation of the United States, as of May 18, the fifth working day, the reference price of crude oil varieties of 50.16 US dollars / barrel, the rate of change of 1.86%, the corresponding retail price of gasoline and diesel should be raised 65 yuan / ton, May 24 at 24 o’clock. Late international oil prices will remain volatile trend, the rate of change is relatively small range of operation, the current retail price adjustment remains variable.

According to the calculation of the United States, as of May 18, the fifth working day, the reference price of crude oil varieties of 50.16 US dollars / barrel, the rate of change of 1.86%, the corresponding retail price of gasoline and diesel should be raised 65 yuan / ton, May 24 at 24 o’clock. Late international oil prices will remain volatile trend, the rate of change is relatively small range of operation, the current retail price adjustment remains variable.

From the domestic market point of view, the beginning of the week in the retail price cut driven by the domestic gasoline and diesel prices with the fall, but the previous market has digested some of the decline, so the rate is relatively limited. Part of the low inventory users docile appropriate cover short positions, the market showed a temporary pick up. After the crude oil prices continue to close up, the rate of change is extended to the range, the news side support fade. And some of the main sales ahead of the completion of the task, so take the opportunity to tentatively push up, which due to early diesel prices fell to a low, the rebound rate is relatively obvious. At the same time, the downstream user stocking operations are completed one after another, and a short period of time the final lack of significant positive boost, the industry re-market stocking will be low, the market buying and selling atmosphere gradually slowed down.

From the retail point of view, the recent domestic gasoline and diesel wholesale prices fell back up, the retail price has honored the biggest decline in the year, so the wholesale and retail prices narrowed sharply. According to Jinlianchong monitoring data show that as of Thursday (May 18), the domestic gasoline retail sales of 1799 yuan / ton, down 235 yuan / ton; diesel theoretical retail profit of 1352 yuan / ton, Down 272 yuan / ton on Thursday. In the latter part, the retail price adjustment is still suspense, the domestic refined oil market or continue to organize the trend, is expected next week, domestic gasoline and diesel wholesale and retail price difference or limited volatility.

Into next week, the international oil prices or continuation of the shock pattern, the rate of change continued to range fluctuations, the current round of retail prices rose slightly with the probability of stranded coexistence, the news face market support efforts are limited. The recent increase in gasoline consumption, coupled with the next week coincides with the Dragon Boat Festival holiday, the market after a period of time after the consumption of the industry have replenishment demand, but low-end resources are still flooding the market, the main shipments difficult to significantly improve. Diesel demand is still flat, environmental issues under pressure on the terminal mining, infrastructure and other outdoor oil business operating rate is limited, a certain degree of inhibition of diesel sales higher. Next week will enter the end of the month, most of the main units to catch up with the main sales tasks, but the social stock is more abundant, under the pressure of major shipments still maintain a large preferential efforts. From the supply side of the domestic main refinery maintenance is limited and the refining rate was sharply higher, the market supply pressure or continued overweight. Overall, the news and supply and demand fundamentals are difficult to find a good support, is expected next week, the domestic refined oil market or will enter the finishing stage, with the holiday near the market or usher in a wave of replenishment tide.