For the first time in six years, oil prices have fallen for four consecutive days.

The continued decline in international crude oil prices has made the possibility of a “four-fold drop” in domestic oil prices. The reporter learned from a number of social monitoring agencies that on September 16 (next Tuesday), the price adjustment window for domestic refined oil products will be opened. The current rate of change in crude oil referenced by domestic oil prices has already exceeded the price adjustment red line, and it is expected that international oil prices will continue to maintain a turbulent trend in the future. At that time, domestic refined oil will usher in its first "four consecutive losses" in six years.

Since the reduction of domestic refined oil products on September 1, due to the international supply of crude oil, the slowing down of market demand, and the weakening of the US dollar exchange rate, investor sentiment basically remained bearish, resulting in a decline in crude oil prices. The weaker import data released by China Customs on Monday added to market concerns about China’s energy demand outlook. The abundance of global supply continued to suppress the decline in European benchmark oil prices. Following the four consecutive falls in the Brent crude oil futures, it fell below the 100-dollar mark on September 9 and closed at US$99.16 per barrel, a decrease of 3.53 compared with September 1. %, a record low of nearly 17 months since April 18, 2013.

As a result of this drag, the rate of change in crude oil fell from a positive value to a negative value and continued to decline. On September 10th, Beijing time was the 6th working day of the 37th round of valuation cycle after the implementation of the new mechanism. Zhongyu crude oil was valued at US$100.198/bbl, crude oil change rate was -0.70%, and the corresponding reduction was 50 yuan/ton. The Zhuo Chuang information monitoring data is -0.90%, corresponding to a reduction of 55 yuan/ton.

“The short-term crude oil market is oversupply, and China and the United States, two of the world’s largest oil importing countries, are also facing a slowdown in the economy, dragging down the crude oil market. In the near future, as crude oil refiners enter the equipment maintenance season, the demand for crude oil may be even worse. There is still a downward trend, and the possibility of a new round of oil price adjustments of 'four consecutive falls' is very high, said Pan Haiping, a product oil analyst at Business Club.

Despite the “four consecutive losses” bearish effect, at present, the northern region enters the autumn harvest season, the demand for agricultural oil is relatively large; some regions have started to upgrade the transitional high-grade oil products; from September to November, Gaoqiao Petrochemical and CNOOC Huizhou Refinery Co., Ltd. Million-ton refineries all have plant-wide overhaul plans, and the domestic main refinery operating rate will decline. In the northeastern refinery, some resources will be transferred to the south and, in addition to the preparation for production of replacement negative oil products, the resources in the region will be slightly strained. Under the support of multiple favorable factors, after the Mid-Autumn Festival holiday, some markets in the Northeast, East China and South China, pushed the price of diesel fuel against the market, and under the influence of the “buy up and not buy down” mentality, the market buying and selling atmosphere became increasingly active.