Due to the International Monetary Fund's downward adjustment of global economic growth expectations and abundant crude oil supply, the international oil price fell sharply again on January 20, 2015. Analysts believe that due to the fierce decline in international oil prices, the domestic oil price is expected to usher in a downward adjustment again next Monday, setting the first time in history, "a 13-year losing streak."
In accordance with the principle of "a ten-day-one-day adjustment" of the domestic refined oil pricing mechanism, the domestic oil price will once again usher in a price adjustment window at 24:00 on January 26, 2015. It is understood that during the current round of valuation, international oil prices have not yet stopped the decline. As of January 20, 2015, WTI crude oil fell 2.30 US dollars, has dropped to 46.39 US dollars / barrel. Brent crude oil fell 0.85 US dollars, has fallen to 47.99 US dollars / barrel.
Accordingly, the Beijing Petroleum Exchange predicts that the domestic oil price will be reduced by approximately RMB 400/t, while the other two related analysts also predict a price adjustment of RMB 400/t.
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