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[YesAuto News] A few days ago, the National Development and Reform Commission announced that from 24:00 on November 18, a new round of refined oil price adjustment window will open: gasoline will be increased by 70 yuan per ton, diesel will be increased by 65 yuan per ton, of which 92 gasoline will be increased by 0.05 per liter. Yuan, No. 95 gasoline will increase by 0.06 Yuan per liter, and No. 0 diesel will increase by 0.06 Yuan per liter. According to the estimation of the 50L capacity of the general family car fuel tank, it will cost 2.5 yuan to fill a tank of 92 gasoline.

The continued decline in the number of U.S. oil rigs boosts oil prices

During the price adjustment cycle, the market’s optimistic expectations that the Sino-US trade negotiations reached a phased agreement and OPEC’s continued production reduction plan supported oil prices. In addition, the continued decline in the number of oil rigs in the United States has also contributed to rising oil prices. As of the week of November 15, the number of oil rigs in the United States fell to 674, close to the lowest number since April 2017, a decrease of 24.10% compared to the same period last year. On average, London Brent and New York WTI crude oil prices were US$62.38 and US$56.98 per barrel, respectively, up 2.40% and 3.01% from the previous price adjustment cycle.

The Price Monitoring Center of the National Development and Reform Commission predicts that, on the one hand, in the context of weak global economic growth, the market is optimistic about the progress of Sino-US trade negotiations and OPEC’s expansion of production cuts. Hedge funds continue to increase their long positions in crude oil futures, and oil prices may continue to rise in the short term. . On the other hand, the further increase in US crude oil production and inventories will compress the upside of oil prices. According to data from the US Energy Information Administration, the recent US crude oil production reached a record high of 12.8 million barrels per day, and is expected to hit a record high of 13 million barrels in November; crude oil inventories are 449 million barrels, an increase of 1.60% over the same period last year. Based on comprehensive analysis, oil prices may fluctuate upward in the short term. (Source: @央视经济; Compilation/Car Home Zhang Xuelian)