Home Business Demand recovery superimposed on the supply side, there are still doubts that international oil prices continue to rise

Demand recovery superimposed on the supply side, there are still doubts that international oil prices continue to rise

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Summary

[Demand recovery and supply side still have doubts that international oil prices continue to rise]In intraday trading on the 14th, NYMEX crude oil exceeded US$71 per barrel, and Brent crude oil exceeded US$73 per barrel, both hitting new highs in the past two years. The data shows that road traffic data in most parts of North America and Europe has recovered significantly, increasing the demand for fuel. On the supply side, negotiations on the Iranian nuclear agreement are progressing slowly, and crude oil output is uncertain. At present, the domestic refining and chemical production capacity pattern is gradually forming a parallel situation of state-owned enterprises and private enterprises. As the industry concentration continues to increase, the competitive advantages of leading enterprises will become more obvious. Both PetroChina and Sinopec are actively promoting the increase in reserves and production; Shanghai Petrochemical’s main income comes from gasoline and diesel. (Shanghai Stock Exchange Information)

In trading on the 14th, NYMEX crude oil exceeded US$71 per barrel and Brent crude oil exceeded US$73 per barrel, both hitting new highs in the past two years. The data shows that road traffic data in most parts of North America and Europe has recovered significantly, increasing the demand for fuel. On the supply side, negotiations on the Iranian nuclear agreement are progressing slowly, and crude oil output is uncertain. At present, the domestic refining and chemical production capacity pattern is gradually forming a parallel situation of state-owned enterprises and private enterprises. As the industry concentration continues to increase, the competitive advantages of leading enterprises will become more obvious.China PetroleumSinopecAll are actively promoting the increase in reserves and production;Shanghai PetrochemicalMain income comes from automobileDiesel oil

(Source: Shanghai Stock Exchange Information)

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