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[China Petroleum Information Center] Dr. LV Xin: 2016 Domestic Oil and Petrochemical Industry Forecast

  • Release date:2016-04-18 11:12:00

  Editor's note: Constrained by excess supply of crude oil, slow global economic recovery, and the deep adjustment of domestic economic structure, the 2016 domestic petroleum and petrochemical industry development is not optimistic, and different segments of the industry chain will show more obvious performance differentiation this year.
  In terms of oil production, the international oil prices directly affect the income level of oil production industry. The entire industry is highly sensitive to oil price fluctuations. This year the global supply of crude oil will continue to increase in a relaxed state; demand will be dragged by the weak economy of emerging countries, China as a representative, and demand for oil will continue the situation last year, a sharp rebound is unlikely; with the Fed announced increase in the federal benchmark interest rate of 0.25%, crude oil prices are under pressure. Therefore, we expect this year the international oil price is still a continuation of low volatility trend.