Traditional Culture Encyclopedia - Traditional festivals - Why is the price of China petroleum always lower than that of China Petrochemical?
Why is the price of China petroleum always lower than that of China Petrochemical?
A rough comparison:
The upstream and downstream ratio of China petroleum (drilling: refining) =7:3.
The upstream and downstream ratio of China Petrochemical Company (drilling: refining) =3:7.
It can be seen that the cost of crude oil in China is relatively low, and China Petrochemical needs to buy a lot of crude oil to meet the needs of refining, so Sinopec is greatly affected by the oil price in the international market.
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