On April 16th, at 24:00, a new round of price adjustment window for domestic refined oil products will officially open. From a comprehensive institutional perspective, this round of retail price hikes is firmly established, and oil prices will face the fifth increase of the year.

During this pricing cycle, international crude oil prices have shown strong bottom support and overall maintained a high consolidation trend.

In terms of supply and demand, the OPEC monthly report shows that the total crude oil production of OPEC slightly increased in March, while OPEC slightly lowered its production forecast for non OPEC countries in the next two years. The EIA has significantly lowered its global crude oil demand growth forecast for 2024 and slightly lowered its demand growth forecast for next year.

At present, the market is generally concerned about geopolitical tensions, and oil prices will continue to be supported by geopolitical risks.

Since the beginning of this year, domestic oil prices have undergone seven rounds of adjustment, presenting a pattern of "four rises, one fall, and two stalls". After offsetting the rise and fall, the prices of domestic gasoline and diesel increased by 675 yuan and 650 yuan per ton respectively compared to the end of last year.