Sinopec, PetroChina: the side of cheap oil exports, while increasing domestic oil prices, international oil prices still fall! In the end you gonna do?! Look at this three-day news, really angry Sinopec oil requirements or re-refined oil price increase economic news every day spring from Beijing by reporter Yu recent domestic oil market into a price adjustment after the weakness has allowed the oil giant Sinopec, the two sit still. On Thursday (April 29) asked the two giants around the branch below moderate price increases, in order to curb the momentum of the current oil market down. As of May 3, the three rate of change of weighted average price of crude oil (base period of April 12) has reached 5.67%. Analysts believe that the late National Development and Reform Commission is expected to continue to increase the maximum retail price of refined oil, which also raise prices for the two giants provide enough space. Support the oil market price of oil high to go to a market researcher Economic Research Institute on the pushed to meet to decide on the price, is expected to post price increases will continue. April last week, the international crude oil continued to rebound, but the domestic gasoline and diesel wholesale prices continue to show slight declines, the two companies still have some areas by the end of April due to price promotions,gucci bag, chain volume significantly enlarged. Due to end-users, brokers began a new round of replenishment, the performance of diesel demand growth significantly; tourist season kicked off, gas stations, retail sales increased significantly. As of 3 end of the domestic oil inventories totaled 18.54 million tons, down 6% qoq. 6.25 million tons of gasoline, chain fell 2%; diesel 10.58 million tons, down 8% in the chain; The data show that in China since 2010, first decline in oil inventories. Information Analysts, according to Zhuo Feng Liu Chong introduced higher price is supported by the most direct factor in the market, 29, South, East, along the price increases and other regions have received verbal messages. Under this influence, the recent market price of domestic refined oil is expected to rebound. Among them, 93 # gasoline rose by 200 yuan per ton, Beijing, Shandong, rose 250 yuan; diesel Hunan, Hubei, rose 100 yuan per ton. Market sources said the above, the international market, oil prices have been much higher than domestic, to attract domestic outflow of resources. In view of serious domestic oil wholesale price is low, the two groups is expected to continue to raise prices. Long-term perspective, as the industry's growth in oil demand, prices will gradually rise. If so, with the rebound of crude oil, domestic oil prices more space. Or re-refined oil price increase as of May 3, the three rate of change of weighted average price of crude oil (base period of April 12) has reached 5.67%, analysts Zhuchun Kai Zhuo record information that previously required two to NDRC condition of price adjustment has been achieved, and the other necessary conditions is only a matter of time. However, the As of last weekend, the international average price of $ 84.24 three, three consecutive 22 working days $ 83.61 weighted average price of crude oil moves, the change rate of 5.32%. Zhuchun Kai said, indicating that the country would not then early this time However, Zhu Chunkai analysis, if the profit is zero compression are still not brought about by rising crude oil or delay, this will suppress the enthusiasm of the two oil refining companies. Therefore, the state will still raise prices of refined oil, as appropriate, only amplitude and time will be carefully considered. Liao Shun Wang estimated rates of energy analysts, such as by 4% to 5% change rate adjustment, price adjustment or increase of 200 yuan / ton; such as by 5% to 7% of the adjustment, or, or 300 yuan / ton. Zhu Chunkai that a further rise in the maximum retail price, the two companies will certainly seize the rare opportunity to substantially increase the refinery operating rates, increased oil output; the other hand, the increased retail price ceiling, it will provide sufficient space for the price. Finished the two oil giants, PetroChina, Sinopec, the two giants, with its market dominance, to create Cheap oil exports in the first quarter of 2010, China's economy further pick-up to the good, the territory of natural gas, refined oil and chemical products to achieve a steady growth in demand. At the same time, domestic oil exports also have significant changes. Customs data released recently, China March exports of refined oil and 264 million tons, rising over 70% year on year. In addition, data published by Cho record information also showed that: in March, the domestic gasoline and diesel oil export price (equivalent to RMB later) is about 5012 yuan / ton, 4,644 yuan / ton. The number of gas stations in China than the price of gasoline and diesel retail hang out the lowest out of a length. but also the cheapest 7408 yuan per ton. In so doing, the export price of gasoline and diesel at least cheaper than the domestic retail price of 3,400 yuan, 2,700 yuan. It is understood that various kinds of Each retail consumers to buy a liter of gasoline and diesel, will be turned over to the state urban construction tax, consumption tax, value added tax, education surtax and other taxes and fees. Reporter calculated that 6.87 yuan in Shanghai's 93 per liter of gasoline, for example, includes value-added tax, consumption tax,gucci bag, a total of 1.998 yuan, while urban construction tax and education surcharge of 0.22 yuan, tax is about 29% of the retail price. Net of taxes, the retail price of gasoline and diesel Shanghai is about 6700 yuan per ton, 5,573 yuan, which is still better than the export of gasoline and diesel prices higher than a length. After calculation, the export of gasoline and diesel prices in Shanghai than the minimum pre-tax wholesale price of gasoline and diesel discount of 8% to 12%. Analysts pointed out that exports of cheap gasoline and diesel are the following reasons, first of all: some are not developed Asian countries (and regions) there are no major refinery, China on a regular basis for other processing of crude oil, it is impossible for them to sell at high prices. Second, because China has low labor and logistics costs for some foreign-invested enterprises already moving and the heart. They regard China as oil processing, the export of cheap gasoline and diesel. Sinopec, according to incomplete statistics, about 20% to 30% of the exports of foreign-invested enterprises. Substantial increase in exports of reasons? Although exports of gasoline and diesel are not too high profits, but exports of gasoline and diesel but in amplification. The first 3 months of this year, China's total exports of 694 million tons of refined oil, an increase of 66.4%. This is China's export volume of four consecutive single-season at 600 million tons of all. 2006 to 2009, during the first quarter, the highest single quarter, but export volume is 480 million tons. One of the reasons for this situation is the lack of domestic demand, companies need to sell products through other means. Although the petrochemical, oil is trying to latest figures show that China's production and sales of gasoline and diesel are rising sharply, demand is clearly better, but this year, a quarter of domestic oil products retail, wholesale and volume did not exceed the same period in 2008. Will not sell the products as part of exports. Earlier media reports said Sinopec and took out some of their own subsidies to encourage refiners to increase export efforts. Zhuo report data also record information that the end of steam diesel has 18.54 million tons of kerosene is about 3 in stock. The reporters found that some of the stock accounted for 30% of production over the same period. At least these facts show that China's gasoline and diesel prices is still a price space. But for now, Sinopec, PetroChina and other companies slashing prices is difficult. On the one hand, according to the pricing mechanism, as long as 22 working days weighted average price of crude oil volatility rate of 4% of the standard, China's refined oil to meet the price criteria. The economic recovery after the oil price is likely to continue to spiral, the two major oil companies will not be in this situation not only lower prices, there are likely to continue to raise prices. On the other hand, controls the domestic oil giant refinery,gucci bag, wholesale and distribution network so the whole industry chain, the upstream and downstream interests is the inevitable result of convergence: all links are expected to maximize profits. The price is obviously not the interests of all parties. (This article Source: First Financial Daily Author: Chen Yu) New York market, oil prices tumbled 4% NEW YORK, May 4 (Xinhua Yang Lei) due to concerns about sovereign debt crisis of the market sentiment frustration, drive the dollar sharply higher, the New York market in international oil prices plummeted from 4% to 4 at 83 dollars per barrel below. Released in the morning, factory orders and the positive sign to stimulate housing sales data, the New York market after the opening day of crude oil futures was $ 87.15 a barrel, the highest in October 2008 to the highest month of the contract price. However, for European sovereign debt crisis may be worries about the spread of market sentiment frustrated. Investors worried about the 110 billion euros for the Greek's rescue plan may not be sufficient to prevent the crisis from spreading to other euro zone countries, and market rumors Spanish sovereign credit rating may be lowered again. 4 Pudie Europe and New York stock market, the euro hit a year low against the dollar, a stronger dollar makes dollar-denominated crude oil futures prices under pressure. In addition, the market expects U.S. commercial crude oil inventories to increase by 160 million barrels last week, also increased the downward pressure on oil prices. By the above factors, the New York Mercantile Exchange, light sweet crude for June delivery futures prices plummeted $ 3.45 from 4 to close at $ 82.74 a barrel, down 4%. London, June Brent crude fell $ 3.27, to close at $ 85.67 a barrel, down 3.7%.