The Impact Of Fluctuations In International Oil Prices On China's Economy And Countermeasures Study

Oil is strategic goods in the process of China's sustainable economic development. In recent years, the international oil prices become the focus of the world because of the fierce fluctuations of the prices. With the rapid development of China's economy, in the demand for oil is increasing rapidly, so is the proportion of the oil consumption in China's energy consumption structure. But China's oil production and growth rate was lower than the consumption of oil and the growth in consumption, so that the contradictions of the domestic crude oil supply and demand become more and more obvious. As China's reform and oil prices increased dependence on foreign oil, the international oil price fluctuations on the impact of China's economy is also growing. Therefore, the in-depth study on the impact of fluctuations in international oil prices on China's economy has great theoretical and practical significance to get the coping strategies of effectively reducing the impact of oil prices and the stable, sustained growth in our national economy surly.In this paper, it expounds the theory of oil price fluctuations firstly, recalls the history of the fluctuations in oil prices, analyses the oil price volatility of the current situation, and bases on that, it forecasts the future trend of short-term fluctuations in the oil price. Next , it analyses the influencing factors of the international oil price volatility from the supply and demand, political, the dollar and futures speculation. China's economic development on the domestic and international oil market environment, the main international and domestic oil reserves, production and consumption of and trade are discussed. The focus of this paper is the discussion on the fluctuations in the international oil prices on China's economic impact. It says mainly the volatility of oil prices on the impact of major economic indicators, the impact of the oil industry chain and other related industries. As the most important part, the paper proposes countermeasures dealing with the fluctuations in international oil prices, they are, we should be based on domestic and international development, and expand sources of oil channels, take the international oil industry strategy, establish and improve China's oil futures market, build China National Petroleum Reserve System, save oil resources, optimize the structure of China's energy consumption and so on.