Although the price adjustment of domestic oil products ushered in an upward adjustment, the increase was limited, and the international crude oil price fell, and the domestic oil product market price fell slightly. According to the monitoring data of the business agency, the price of gasoline on October 23 was 5220 yuan / ton, down 1.64% from the beginning of the week; on October 23, the price of diesel oil was 4573 yuan / ton, down 2.00% from the beginning of the week.

As of October 16, Cushing’s crude oil inventory increased by 975000 barrels in the week; the implementation rate of OPEC member states’ production reduction in September was as high as 102%, but the oil market was dragged down by the second epidemic in Europe, and crude oil demand continued to decline; the international crude oil price fell this week, WTI crude oil price fell by 3.09%, Brent crude oil price fell by 2.00%.

In terms of gasoline demand, the domestic weather and temperature are falling, and there are no holidays in the near future. The domestic gasoline market demand returns to the rigid demand, which lacks a positive boost. In addition, the international crude oil falls, and the terminal market just needs to replenish. In terms of diesel demand, the domestic weather is getting colder, and outdoor operations such as road engineering and infrastructure construction enter the rush period, so the demand for diesel is good. On the whole, diesel demand is better than gasoline market demand. Affected by the drop in crude oil prices, domestic diesel prices fell slightly this week.

On October 23, the average start-up load of the daily decompression unit was about 73%. Although the start-up load of the refinery decreased slightly, it still maintained a high level, and the domestic refined oil supply was relatively sufficient.

Lu Xingjun, an oil product analyst at the business club, believes: in the short term, international crude oil will still be suppressed by demand, the supply side will not be good, and the domestic demand for refined oil will not be supported by favorable factors. It is expected that the price of domestic oil products will continue to decline steadily.