PetroChina says diesel shortages stem from six factors

Crude oil prices, increased demand, "power rationing" and speculation in the hot money led to high price of diesel. "Caixin Net" (reporter An Shu) as of yesterday (November 11), the average wholesale price of No. No. 0 diesel in China amounted to 7900 yuan/ton, which rose about 1000 yuan/ton from early September.　　To this end, PetroChina has introduced a measure to increase diesel production to a daily average of 168,000 tonnes, and believes that the shortage of diesel stems from the price of crude oil, "power rationing" and hot money speculation and other six factors together. China Petroleum (601857.SH) proposed in its official website, high crude oil prices, resulting in some oil companies due to losses and production, production, transportation, engineering and engineering led to increased demand for diesel oil, the four-quarter diesel consumption demand peak season; some refinery equipment overhaul; "Power rationing" led some companies to choose diesel　　, the private hot money hype and other six factors, led to the diesel tension situation appeared. In response to the imbalance between supply and demand, PetroChina increased its crude oil production to a record high of 400,000 tonnes, increasing its diesel output by 10,000 tonnes per day from October to a daily average of 168,000 tonnes.　　At the same time, the western region to increase the negative 10th diesel production capacity.　　According to the survey data released 11th by the China Business Federation's Oil Distribution commission, more than 2000 private gas stations in the south have been closed down for oil shortages, and the closed gas stations are concentrated in Guangdong, Jiangsu and Zhejiang provinces. In the international market, the New York market in the price of oil yesterday rose to 88 U.S. dollars, a two-year record. The New York Mercantile Exchange's December delivery of light crude oil futures was flat on the previous day and closed at $87.81 a barrel. London's North Sea Brent crude futures prices fell 15 cents and closed at $88.81 a barrel.