USD 63.8272

-0.64

EUR 70.6695

-0.86

BRENT 64.13

-3.68

AI-92 42.39

0

AI-95 46.11

-0.01

AI-98 51.9

-0.01

Diesel 46.15

+0.01

15

Chinese Oil Price Reform Lingers On

China again has delayed the issuing of oil pricing reform document

China again has delayed the issuing of oil pricing reform document, initiating its new pricing system.

The reform will link the domestic oil product prices to the West Texas Intermediate (WTI) crude price.

The current system allows the prices to be adjusted once a month if the oil product prices on the three markets of New York, Rotterdam and Singapore exceed 8%. The country lifted oil prices four times last year.