After the implementation of the “five consecutive rises” of domestic oil product price adjustment, refinery oil product prices rose slightly, but the rise of international crude oil prices was blocked, domestic demand for Spring Festival holidays was not expected to be good, and domestic oil product prices rebounded slightly. According to the monitoring data of business news agency, the price of gasoline on January 22 was 5809 yuan / ton, down 0.35% compared with the beginning of the week; the price of diesel on January 22 was 4817 yuan / ton, down 0.47% compared with the beginning of the week.

Recently, many media or countries have raised the international oil price forecast for 2021, but the IEA lowered the crude oil demand forecast for 2021. The EIA crude oil inventory increased by 4.351 million barrels, which hindered the rising trend of international oil price this week. WTI crude oil price fell by 0.29% and Brent crude oil price rose by 0.56%.

In terms of gasoline demand, the cold weather in winter increased the willingness of automobile travel, and the domestic refined oil price adjustment “five consecutive rises” was implemented, which enhanced the willingness of the terminal transaction of refined oil market. However, the upward trend of international oil price was blocked this week, and the domestic gasoline price was stable and slightly recovered. In terms of diesel demand, affected by the cold weather, the demand for outdoor diesel such as engineering, infrastructure and so on continued to decline However, the overall demand for diesel oil is on the decline. The price of domestic diesel oil market is down steadily

As of January 22, the average start-up load of daily decompression unit is about 74%, and the start-up load of refineries remains at a high level. The supply of domestic refined oil market will continue to maintain an adequate situation.

Lu Xingjun, product oil analyst of business society, believes that the upward trend of international crude oil prices is blocked. Affected by the epidemic situation, domestic demand is expected to cool during the Spring Festival holiday, and product oil prices are expected to continue to callback.