The tight supply of refined oil eased in June

2022-08-04
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The tight supply of refined oil in June eased

in June, the supply shortage in the domestic refined oil market tended to ease, and the market price showed a high level and stabilized after the broad increase of the benchmark price on May 24. In some regions, the market purchase and sales were light, and the demand was weakened

weakening demand growth

according to relevant statistical data, from January to may, domestic crude oil consumption was about 132million tons, an increase of 5.6% over the same period last year and a year-on-year decrease of 2.7 percentage points; Among the main refined oil products, gasoline consumption was 21.2 million tons, an increase of 5.35%; Kerosene consumption was 4.62 million tons, up 7.2 percent; Diesel consumption was 47.8 million tons, up 4.2 percent; Fuel oil consumption was 20.57 million tons, down 2.6%. Compared with the growth rate of the same period last year, gasoline decreased by 2.2 percentage points, kerosene decreased by 1.1 percentage points, diesel decreased by 8.4 percentage points, and fuel oil decreased by 2.6% from a 10.9% increase from January to may last year

the sharp rise in the price of petroleum products, on the one hand, effectively curbed the excessive growth of demand, making the growth rate of consumption significantly lower than that of the same period last year; On the other hand, it triggered changes in the consumption structure. It is estimated that in the past two to three months, domestic oil demand has continued to maintain a steady growth trend and the growth rate has narrowed

increase in supply

in may, the domestic crude oil output reached 15.72 million tons, an increase of 590000 tons over the previous month and a year-on-year increase of 384000 tons; The output of main refined oil products reached 17.55 million tons. "In addition, it also increased by 290000 tons and 800000 tons respectively. From January to may, crude oil output reached 76.27 million tons, an increase of 2% over the same period last year; The output of main refined oil products reached 86.46 million tons, a year-on-year increase of 3.2%

while the output growth rate has increased, the shaping characteristics of imported resources have been greatly improved, and exports have been significantly reduced. In May, the import of crude oil was 12.39 million tons, a year-on-year increase of 20.5%, and only 115000 tons were exported, a year-on-year decrease of 48%; From January to may, the import was 61.55 million tons, up 18% year on year, and the export was 2.52 million tons, down year on year 6%。 In May, the import of refined oil was 2.98 million tons, a year-on-year increase of 51.5%, and the export was 1.1 million tons, a year-on-year decrease of 30.7%

due to the increase of output and import and the decrease of export, the quantity of resources has increased and the tight market supply has been significantly alleviated. In June, the crude oil processing volume of CNPC and Sinopec is planned to increase by 100000 tons respectively compared with that of May, so that the domestic output will maintain a steady increase. Recently, in response to the national requirements, PetroChina has increased the supply of diesel. 2. The correct installation of tensile testing machine has increased the amount of going to the sea and entering the customs. Dalian wharves have stepped up operations to ensure that coastal resources arrive in time. Relevant enterprises take active measures to reduce inventory, optimize unit operation, improve diesel steam ratio, reduce exports, and increase domestic supply with the development of sensor technology, so as to improve the guarantee degree of domestic market supply

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