Oil prices may rise again at the end of June, experts say

With the international crude oil price has risen to more than 70 U.S. dollars per barrel, our country to adjust the price of oil products time window was reopened.　　Experts predict that the national Development and Reform Commission may at the end of June adjust the price of oil products, the specific time and range should be taken into account the interests and affordability.　　The rate of change has exceeded 4% according to the National Development and Reform Commission this year promulgated the "Oil price management measures (trial)", when the international market for 22 consecutive business days moving average price changes over 4%, can adjust the domestic oil prices. Citic Securities Petrochemical industry analyst Shingdong that the domestic adjustment of oil prices time window will reopen at the end of June. Despite the June 1 increase in oil prices, the base trading day may start from the end of May.　　Due to the recent increase in international crude oil prices faster, at the end of June again the probability of adjusting the price of refined oil products. According to Yan Fi, an analyst at the National Information Center's Economic forecasting department, the possibility that domestic oil prices will continue to adjust in the short term under the new oil pricing mechanism is now difficult to judge.　　The NDRC also does not want to form a fixed price-adjustment forecast. A Sinopec official told the China Securities daily that the possibility of continuing to adjust the price of refined oil in the short term was not very high.　　Although the international oil price has risen to more than 70 U.S. dollars per barrel, domestic oil price of more than 50 U.S. dollars per barrel, but given that our economy has not fully recovered, as well as the interests of farmers and coal-oil transport sector care, the relevant departments may also postpone the adjustment. For the new oil pricing mechanism, some experts said that because it did not clear "moving average price" is based on the simple arithmetic average or other methods, as well as the corresponding oil price specific adjustment range, it is difficult to predict the next oil price adjustment of the specific time.　　In this respect, the above-mentioned Sinopec said the mechanism also has the advantage, is to some extent, to eliminate oil hoarding expectations. We need to consider all factors. As of June 16, Nemex crude oil futures price close to 71.47 U.S. dollars per barrel, continue to stand at the top of 70 U.S. dollars per barrel.　　Haitong Securities and Petrochemical industry analyst Deng Yong that, although the mechanism, China's fastest at the end of June may adjust oil prices, but also need to take into account the pressure of all sectors of society. Deng Yong also believes that the international oil price has risen too fast since May, and the recent appreciation of the United States dollar pressure, the short-term international oil prices there is a pullback in pressure, which may also inhibit the incentive to increase oil prices.　　In the long run, however, the international oil price is expected to show a quarterly upward trend. Shingdong that even if there is a pullback in international crude oil prices, but this should not be the reason for the recent increase in the price of refined products, on the contrary, China can be adjusted before the adjustment.　　The new pricing mechanism of refined oil will help to rationalize the resource price system and the interests of the relevant economic sectors, which would promote economic and social development in the long run. National Development and Reform Commission price Division officials said recently, China's oil price adjustment and international crude oil price changes tend to be generally consistent, the time lag will not be too long, but not too frequent. With the competitive market structureFormation and the continuous improvement of the market system, the domestic oil prices will eventually be formed by market competition.