Overview of the domestic and foreign oil market in 2017
The international market
(1) In 2017,international oil prices presented a ‘V-shaped’ curve and broke through the operation range of USD 40-60 in early November.
At present,the WTI average price in 2017 was USD50/barrel,with a year-on-year growth of USD 7.47/barrel(+17.57%) and a fluctuation range of USD 42.53-57.35/barrel;the Brent average price was USD 53.62/barrel,with a year-on-year growth of USD 9.5/barrel (+21.54%)and a fluctuation range of USD 44.82-64.27/barrel.
(2) The rebalance of the global oil market was finallyachieved.