Domestic oil prices may rise for the first time this year after the holiday

 
Economic Information Daily has learned from several social monitoring organizations that the price adjustment window for domestic refined oil products will reopen on June 28. Domestic oil prices are likely to rise for the first time this year as the average price of crude oil in this period may break above the floor price of $40 per barrel.
 
In recent days, the supply side of the international crude oil market has continued to tighten, spurred by OPEC+ 's ministerial monitoring committee meeting urging production cuts. Meanwhile, demand for crude oil has shown signs of picking up as some countries have begun to resume production and moderate unsealing.
 
In this context, international crude oil futures prices rose. Light crude for July delivery rose 71 cents, or 1.79%, to settle at $40.46 a barrel on the New York Mercantile Exchange. London Brent crude for August delivery rose 89 cents, or 2.11%, to settle at $43.08 a barrel.
 
Data from Longzhong Information show that the comprehensive change rate of crude oil was 4.24% as of June 22. It is expected that the retail price of refined oil will be raised by 140 yuan/ton at 24:00 on June 28. The price of Zhongyu crude oil exceeds $40 and is tentatively expected to be raised by 100 yuan/ton.
 
Wang Tao, an analyst with Zhongyu Information, said that if international crude oil futures can stick to the market and maintain low volatility, the possibility of refined oil product hike on June 28 is very high. If the price adjustment policy is implemented, the arbitrage space for Shandong Refineries in South China and other regions may rise in a narrow range, which will also benefit the demand recovery of major refineries and refineries after the Dragon Boat Festival.
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