Oil In China And The Construction Of The Oil Market For International Pricing Power Of Advice

Oil is the economic lifeline of the country’s important strategic goods,our country will face a serious energy problems of the future. China is theworld’s second-largest importer of crude oil, dependence on imported crudeoil of more than57%, but crude oil pricing mechanism in the world don’teven have a0.1%weight. Most of China’s imported crude oil trading withfutures prices as the benchmark for settlement, when much of China’simported crude oil, vulnerable to the attacks of international speculators inthe futures market, pushing up oil prices, resulted in a huge loss of imports.National strategic oil reserve, only about40days of reserve capacity, UnitedStates3months compared to normal crude oil reserves and ability to resistrisks considerably. Fluctuations in the dollar for dollar-denominated crude oilprice impact is large, vulnerable United States control. Faced with this seriesof questions, the authors propose building the oil futures market in China,step by step into the world of the oil trading center, to crack these difficultissues. Specifically set up crude oil futures traded in Shanghai, at Yangshanport large crude oil, crude oil products, warehouse, bonded warehouse storage, delivery and other functions, creating mountain on prices ofdomestic crude oil, into the international oil price system, become abarometer of China’s oil prices.Full text is divided into three parts. Part I provides an overview of presentsituation of Chinese Petroleum and imported crude oil pricing model.Construction of part II sets out the ideas in the oil futures market in China.Hong Kong mountain, on the third section describes the build effects andsignificance of crude oil prices on the domestic and international oil prices,maintain oil security.