China Mulls Giving Oil Majors More Autonomy in Setting Fuel Prices – Report

摘要

China is studying a system that would allow its three major oil companies to independently set the prices of refined oil products when global oil prices are below US$130 per barrel, according to a March 23 Shanghai Securities News report citing a government researcher. China may also incorporate “relatively cheaper” West Texas Intermediate – the U.S. light, sweet benchmark, which is traded on the New York Mercantile Exchange – into the crude basket it tracks, the newspaper reported, citing Jiang Xinmin, deputy director at the Energy Research Institute of the National Development and Reform Commission (NDRC).