China Refined Oil Retail Ceiling Prices to Increase Greatly

Brent has approached the threshold of $80/bbl, supported by the U.S. withdrawal from the Iranian nuclear deal and instability in the Middle East. Up to now, SCI holds that the change rate of crude oil prices is 4.87%, which corresponds to an increase in refined oil prices of RMB 220/mt. Therefore, refined oil prices will certainly increase in this price adjustment cycle.