China will be without doubt dependent on the internationalmarket for oil for a long period of time because the country’sdomestic oil resources are insufficient to meet the rapidly growingdemand. Distribution of inter...China will be without doubt dependent on the internationalmarket for oil for a long period of time because the country’sdomestic oil resources are insufficient to meet the rapidly growingdemand. Distribution of international oil resources is not inbalance, but an overall shortage is unlikely.Although the risk of regional and temporaryinterruptions in oil supply still remains, thisrisk, however, is on the decline. In the future,the international oil market will continue tosee frequent fluctuations in oil prices. Therefore, China’soil strategy should focus on establishing along-term, stable and secure oil supply at a reasonableprice. Currently, China lacks effective means to avoid oil marketrisks and passively accepts the fluctuations of international oilprices, which has a negative influence on normal operation of thenational economy and costs the country money. Therefore, itis necessary for the country to establish a market system that canminimize such risk and to actively involve itself in the internationaloil market to spread out market risks through introduction of localcompetition mechanisms.展开更多
文摘China will be without doubt dependent on the internationalmarket for oil for a long period of time because the country’sdomestic oil resources are insufficient to meet the rapidly growingdemand. Distribution of international oil resources is not inbalance, but an overall shortage is unlikely.Although the risk of regional and temporaryinterruptions in oil supply still remains, thisrisk, however, is on the decline. In the future,the international oil market will continue tosee frequent fluctuations in oil prices. Therefore, China’soil strategy should focus on establishing along-term, stable and secure oil supply at a reasonableprice. Currently, China lacks effective means to avoid oil marketrisks and passively accepts the fluctuations of international oilprices, which has a negative influence on normal operation of thenational economy and costs the country money. Therefore, itis necessary for the country to establish a market system that canminimize such risk and to actively involve itself in the internationaloil market to spread out market risks through introduction of localcompetition mechanisms.
