国际油价波动对“三桶油”企业业绩的影响

The Impact of Oil Price Fluctuation on Enterprise Performance of “Three Barrels of Oil”

随着全球经济的缓慢增长,国际原油价格处于低价震荡徘徊,"三桶油"企业利润跳水、成本挤压、投资收窄、企业业绩持续下跌。通过研究和分析2007—2017年中国石油、中国石化、中国海油(即"三桶油")的ROE与国际油价的数据关系,结果表明:国际油价与企业业绩呈倒"U"型关系,国际油价在80美元/桶左右时,"三桶油"企业的ROE最高,最后根据实证结果提出企业业绩提升的相关建议。

With the slow growth of the global economy, the international crude oil price is hovering in the low price shock, and the profits of “three barrels of oil” companies have plunged, cost has been squeezed, investment has been narrowed, and corporate performance continues to decline. Through research and analysisthe ROE of CNPC, Sinopec Corp, CNOOC (ie, the “Three Barrels of Oil”) and data of international oil price in 2007-2017, building the regression relationship model between international oil price and the ROE of “Three Barrels of Oil” enterprise. The results show that the international oil price and the enterprise performance relationship is inverted “U” type,[international oil prices and enterprise performance relationship is inverted “U” type,] when international oil prices around $80 per barrel, the ROE of “Three Barrels of Oil” is the highest.Finally, according to the empirical results,we are making some suggestions for promoting the corporate performance.