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What China's floor of US$40/bbl crude oil means for upstream and downstream

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Report summary

With its US$40/bbl crude oil floor policy, the Chinese government seems to be taking protection measures for its economy against a sustained period of low crude oil prices. Overall, we believe this policy is positive for the Chinese upstream producers and private refiners

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    What does China's floor of US$40/bbl crude oil mean for upstream and downstream

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Table of contents

  • Executive summary
  • Background to the policy change
  • Implications for refining and marketing
  • Implications for the upstream industry
  • Conclusions

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  • Retail price build-up for gasoline in Guanzhou (China), RMB/tonne

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