This week, international crude oil prices rose by 5%, and domestic refined oil price adjustment ushered in an upward adjustment. However, due to the poor demand in the refined oil market, the domestic refined oil prices were weak. According to the monitoring data of the business agency, the gasoline price on November 20 was 5185 yuan / ton, up 0.25% from the beginning of the week; on November 20, the price of diesel oil was 4633 yuan / ton, up 0.40% compared with the beginning of the week.

The overseas epidemic situation is still serious, and the international crude oil market demand is not good; however, there are also good news that OPEC will prolong the production reduction, the US shale oil production will decrease, and the development of new crown vaccine will be accelerated. The international crude oil price fluctuates upward, with WTI crude oil price increasing by 5.71% and Brent crude oil price increasing by 5.10% weekly.

In terms of gasoline demand, the weather turned cold and the number of car trips increased slightly, which supported the gasoline market demand to a certain extent. However, the middle and lower reaches of the industry were not optimistic about the future market prices, and the market transaction atmosphere turned weak, and the market lacked of upstream action; in terms of diesel demand, the domestic weather was getting colder, and the outdoor diesel demand for road engineering and infrastructure projects was gradually declining, and the middle and lower customers were more interested in the future market Empty attitude, diesel market is facing greater downward pressure.

As of November 20, the average start-up load of the daily decompression unit was about 75%, and the start-up load of the refinery remained at a high level, and the domestic product oil supply was sufficient.

Lu Xingjun, an oil product analyst at the business club, believes: the international crude oil price has temporarily stabilized at US $40 / barrel, but the foreign epidemic situation is still relatively serious. In the short term, the international crude oil market demand will be poor, the crude oil price will continue to be under pressure, and the domestic oil product market is also lack of demand support. It is expected that the domestic oil product price will be stable and small in the short term.