China’s Oil Industry Regulation Effect Research

Oil is an important strategic energy resources, that relate to the national economy and security of national defence. With the rapid growth of oil industry and related products, the demand for oil rises sharply. Under such background, the paper studies the effect of the oil industry regulation in China, in order to explore the effect of oil industry regulation reform and the existing problem. And then put forward the corresponding countermeasures and suggestions for the future, which not only has a certain theoretical significance, but also a certain practical significance.On the basis of the introduction of the related theory about effort of regulation, the paper generalizes the history of oil industry regulation in our country and then analyzes the current regulation effect from China’s oil industry market concentration, price behavior and market competition behavior. Through the analysis, the paper finds that along with the achievements of China’s oil industry regulation policy, there still exist problems of "enterprise management, unreasonable price formation mechanism, lack of fair market competition environment" and so on.From the empirical point of view, using the time series model, the paper makes an empirical analysis on our country’s petroleum industry regulation effect form the dimension of production, price,profit and efficiency. This illustrate that the price mechanism of the petroleum industry is imperfect and there still exist problems in the monopoly enterprise regulation. In the inspection efficiency model, the marketization index and efficiency exist a negative relationship, which shows that China’s oil market competition is not sufficient.Based on the above empirical results, the paper refers to foreign oil industry regulation characteristics and summarizes the enlightenment of our country, put forward countermeasures and suggestions for China’s oil industry regulation reform. It suggests from the perspective of the system, making the government regulation policy reasonable and making China’s petroleum industry into an internationally competitive industry.