Sina Finance—the crude oil is approaching to be on the market. In August 5th, Ping An futures was held in "crude oil futures market promotion" in Shenzhen. On the meeting, the participants said that the introduction of Shanghai crude oil futures, would enrich the way investors trading
"From a macro point of view, the reserves of crude oil have doubled in the past 35 years, and now two barrels of crude oil have been discovered by per barrel of crude oil consumed."." "The technological advances have brought about a reduction in the cost of crude oil production," said Jane Cheung, a general manager of Ping An futures trading and marketing department.
He said, “oil field with low cost including shale will account for more than 40% in the global liquid fuel production in 2015. It can be expected that in the next 10 to 20 years, oil production will continue to increase, while the mining costs continue to decline. By 2035, the cost of exploiting the oil field will be as low as $20 / barrel”.
Jian Xiang thought that compared with the impact of new clean energy, we should more concern about the impact of natural gas on the market of crude oil for the current situation. He said, at present, the global crude oil trading system with the Middle East as the core has been formed. However, natural gas is still the global trading system of multi center. Russia and Indonesia occupy an important position in the trading system, with "The Belt and Road" to promote the future of natural gas will become more and more diversified pattern.
For the future of crude oil market, Jane Cheung said, in the short term, on one hand, the demand for oil in China and the United States remain stable. From specific view, the United States is in car peak in July and August, and gasoline demand returns seasonal, coupled with its economic recovery this year, so crude oil consumption has exceeded four years; in China, since the two quarter of last year, it has imported crude oil on the increase. On the other hand, crude oil market structure tends to be smooth. The hedging power of producers and traders is declining, and crude oil futures net long inch is continuing to increase. Now, the market is in good, bullish and optimistic situation.
He said, “In the medium term, while the world's major economies are recovering steadily over the next 1 to 3 years, each of the economies faces serious structural challenges, with long-term potential growth still sluggish and oil demand stabilizing.”
As the first variety of opening—up futures, the crude oil futures are likely to become the highest degree of internationalization of China among domestic listed futures varieties. After the listing of the market, it is expected to show a good state of investment. However, general manager of Ping An Futures Channel Jiang Chunyang remind investors that in recent years , the market is chaotic, and some irregular trading places not only make use of market maker mechanism and investors to bet, but overcharge related costs, making investors bear huge investment risk. It needs to be vigilant.