Recently, due to the turmoil in some regions and the impact of crude oil supply problems, international oil prices have continued to fluctuate and rose rapidly.
On the morning of March 7, the price of Brent crude oil futures rose sharply by US$20/barrel, reaching a high of US$139.1/barrel.The price of WTI crude oil futures reached a maximum of 130.5 US dollars per barrel, and the prices of the two major crude oil futures both refreshed the highest value since 2008.
Regarding the issue of rising international oil prices,The National Development and Reform Commission said that my country’s energy supply is guaranteed.
Recently, with the escalation of the conflict between Russia and Ukraine, international crude oil and natural gas prices have further climbed. In view of the possible energy shortage, the impact is generally controllable, because China is not only a major energy consumer, but also a major energy producer, so the overall energy supply is guaranteed.
At this stage, China’s crude oil and natural gas energy import sources have been diversified, and long-term contracts account for a high proportion.Therefore, as long as all parties perform according to the contract, imports can remain generally stable.
At the same time, in order to ensure the safe and stable supply of energy, the country will increase production capacity, increase production, increase reserves, and increase supply, as well as stabilize imports, prices, and expectations. In the future, the state will greatly increase investment in oil and gas exploration and development, and promote the increase of oil and gas reserves.
In addition, it is worth mentioning that the “floor price” and “ceiling price” are implemented in my country’s refined oil pricing mechanism.When the international oil price is lower than 40 US dollars and higher than 130 US dollars, the domestic refined oil prices are no longer adjusted.
Now, as the international oil price continues to rise, whether it can hit the “ceiling” of oil prices, it is still necessary to observe the follow-up market trend.
Hashtags: oil price Petroleum Development and Reform Commission