echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > China Chemical > Crude oil futures fluctuated upward in the second half of the year, supply may be tight

    Crude oil futures fluctuated upward in the second half of the year, supply may be tight

    • Last Update: 2021-08-16
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Recently, the US WTI crude oil futures, Brent crude oil futures and domestic crude oil futures have continued to fluctuate upward
    .


    Take the main crude oil contract 2108 as an example.


    Regarding the reasons for the recent increase in crude oil futures prices, relevant agencies believe that the global economy continues to recover steadily, the outlook for crude oil consumption improves, the seasonal peak season arrives, the supply and demand structure of the oil market improves and the destocking of inventories accelerates and other factors have started a round of rising oil prices.



    According to the market supply and demand relationship, the Shanghai Futures Exchange and its subsidiary Shanghai International Energy Exchange respectively issued notices on adjusting the storage fees for futures fuel oil and futures crude oil and low-sulfur fuel oil
    .


    Among them, starting from January 1, 2022, the futures crude oil storage fee will be reduced from 0.
    3 yuan/barrel per day to 0.
    2 yuan/barrel


    Benefiting from factors such as growth in demand, the "two barrels of oil" and other related companies turned losses into profits
    .


    Among them, PetroChina stated in its performance forecast that it is expected to achieve net profit attributable to shareholders of the company in the first half of 2021 compared with the same period of the previous year, which will turn losses into profits, an increase of RMB 75 billion to RMB 90 billion


    Baocheng Futures believes that the supply side of the crude oil market may be tight in the second half of 2021.


    The price trend of domestic and foreign crude oil futures is expected to show a three-way trend and a two-way trend



    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.