1. China US trade negotiations have achieved phased results
China US trade negotiations lasted for two years. They talked about the suspension and finally reached the first phase agreement at the last moment of 2019, which reduced the uncertainty of the future of the market. At the press conference of the State Council Information Office on December 16, Fu Linghui, a spokesman of the National Bureau of Statistics, answered the question of reaching the first phase agreement in China US trade negotiations, adding that China and the United States currently It is the largest two countries in the world. The cooperation between China and the United States is a relatively good development for China, the United States and the world. It is of positive significance for enhancing market confidence, promoting economic and trade development, for China, the United States and even for the world.
2. Saudi oil facilities attacked
| Benzalkonium chloride |
In the early morning of September 14, 2019 Beijing time, several drones attacked two oil facilities of Saudi Aramco and caused a fire. After the incident, the Hussein armed forces claimed responsibility for the attack, and many countries expressed or used strategic oil reserves to fill the supply gap. On the first trading day after Saudi Aramco’s attack, the oil market was not surprised by a huge earthquake. Brent crude oil jumped on the opening day of the 16th, with an increase of 17% at one time, breaking the $70 mark, the largest one-day increase since 1991; WTI crude oil also rose 13%. Although Saudi Arabia’s emergency recovery in the following week did not have a significant impact on the market supply, the incident shocked the global crude oil market seriously.
3. Saudi Aramco listed at the end of 2019
On December 11, Beijing time, Saudi Arabia National Oil Company (hereinafter referred to as Saudi Aramco) was listed on Riyadh stock exchange in Saudi Arabia. On the first day of trading, it rose 10% to 35.2 Riyals, hitting the limit. By the end of trading, Saudi Aramco’s market value on the first day had soared by 1.2 trillion yuan, with a total market value of 13.16 trillion yuan (about 1.88 trillion US dollars), officially surpassing apple（ 8112, – 74.00, – 0.90%) is the largest company with the largest market value in the world, equivalent to the market value of 3.5 Alibaba (US stock market value) or 9 Guizhou Moutai, only slightly lower than Brazil’s GDP (US $1.9 trillion) in 2018.
4. Oman sea tanker explosion
On June 13, 2019, Iran’s al Alam television network quoted local Omani sources as saying that due to malicious attacks, there were two tanker explosions in the Oman sea that morning. After the incident, the U.S. and Burmese oil prices rose rapidly, with Burmese oil rising more than 4% at one time and WTI crude oil rising nearly 4%. In addition, the attack led to panic in the market, through the Oman sea tanker premium also increased significantly.
5. Supply concerns caused by pollution of Russian oil pipeline in Druzhba
In the early morning of April 26, 2019 Beijing time, foreign media reported that the crude oil transported by the Russian Druzhba oil pipeline was polluted by organic chlorides, and Poland and Germany cut interest rates to suspend the import of Russian crude oil from the pipeline. It is reported that the contaminated crude oil can reach up to 1.5 million barrels per day, which exacerbates the market panic.
| Sodium Molybdate |
6. Highway investment
Highway investment is an important indicator of asphalt demand. According to the 13th five year plan of each province, during the 13th Five Year Plan period, the national highway investment is planned to be 9.7 trillion, while from January 2016 to October 2019, the national highway investment has been 7.8 trillion, accounting for 80% of the plan, and from January to October 2019, the investment is planned to be 1.8 trillion.
7. VAT rate down
From April 1, the 16% VAT rate of manufacturing and other industries will be reduced to 13%, and the 10% VAT rate of transportation and construction industries will be reduced to 9%.
8. IMO 2020 new regulation for sulfur limitation
According to the relevant provisions of the new IMO 2020 sulfur limitation regulations, the use of fuel oil containing no more than 0.5% sulfur will be restricted globally from January 1, 2020. This means that the high sulfur residue produced by refineries with insufficient secondary processing capacity and desulfurization capacity may become the blending component of asphalt, and the supply of asphalt will increase, especially the supply of non-standard asphalt market.
9. Marui crude oil “cut off”
In August 2019, China National Petroleum Corporation (CNPC) decided to stop importing crude oil from Venezuela. PetroChina is currently the only Chinese company to import oil from Venezuela. 80% of Venezuelan crude oil imported by China is mare crude oil, accounting for about 50% of domestic asphalt raw materials.
| http://www.lubonchem.com/ |