Shandong Independent Refinery Oil Refining Profits Rose
From August 20 to August 26, the average comprehensive oil refining profit at Shandong independent refineries was RMB 95.7/mt, up RMB 25/mt from that from August 13 to August 19. From August 20 to August 26, the feedstock cost at refineries dropped to some extent. Meanwhile, the prices of oil refining products inched down as well. On the whole, the decrease in oil refining products’ prices was smaller than that in feedstock cost, and therefore, the comprehensive oil refining profits at Shandong independent refineries increased.
In the future, the international crude oil prices are estimated to keep fluctuating, and the feedstock cost at refineries will remain largely stable. Meanwhile, the prices of gasoline may rise while the prices of diesel are predicted to be flat. On the whole, SCI reckons that the future comprehensive oil refining profits at Shandong independent refineries will fluctuate by around RMB 30/mt.
