Study On International Oil Pricing Right And The Strategy For China

The petroleum is non-renewable and rare resources. As an important source of energy and strategic materials, petroleum is closely related with national economy, social development and national security. With the development of economy, the demand of our country for oil is larger and larger. Domestic oil production lagging demand growth has been becoming an increasingly serious problem. In recent years, China has been substantially increased the degree of dependence on oil imports, its oil consumption in 2002 exceeded that of Japan, becoming the second largest oil consumer in the world just behind the United States, with 136 million tons of oil net imports in 2005, accounting for about 7% in world oil trade. But we have little effect on international oil prices. Deep study on the international oil pricing right will play an important theoretical and practical role in establishing reasonable Chinese energy strategy, ensuring the stability and rapid continuous growth of our economy.This paper analyses in depth form foundation of price of oil; defines oil production cost, composition of monopoly profits and land rent. The paper points out that monopoly profits rely on monopoly position.Then paper analyses a great deal of influence factors of the price of oil in an all-round way, pointing out that the supply-demand relationship change of the world oil is the main factor that the price of oil fluctuates.This paper mainly analyzes the evolvement of international oil pricing right. Analysis of the history and institutional changes in the international oil market is given regarding the international oil pricing right as main line, considering that western multinational oil companies mastered the oil pricing right ahead of 1973; after the oil crisis in 1973, OPEC became the master of the oil pricing right; nowadays, it is multiplex situation of oil pricing right.Based on studying on the basic powers of oil market, this paper tries to probe into the impact on price from their interests'relationship and decision-market process. Obviously, the international competition regarding oil is becoming much fiercer. As an oil consuming country, the U.S. takes advantage of soldiership, diplomatism and economic measure to enhance the ability for controlling world oil market. OPEC is the main international organization in world oil market, Control of supply is an important measure. Because of the in-house conflict and exterior pressure, the measure can't control the international oil price effectively. On the other hand, Russia carries out active petroleum diplomacy stratagem. This country has become an important power of the international oil market.At last, the paper analyzes the current situation and development trend of China's oil imports on the basis of current situation of China's domestic oil supply and demand. Oil resource in our country is very limited. There is a rather big gap to the world level of oil industry. Therefore, oil supply gap and rising import dependence make us not optimistic. Oil trade is running at the high price, bringing negative effect to balance of payments, even the whole national economy of China. To protect oil security and even economic security, we have to use reasonable Strategy to improve our status.Because author's knowledge accumulated is not enough and theory'accomplishment still need to improve, this paper has several weak points. For example the materials collecting is not enough, analyzing depth is not that deep. All these need efforts.