By Zhang Liang, Li Zhiwei & Xu Wei, Research Team on "Reform of Oil Circulation System under the New Circumstances in China" of DRC

Research Report No 52, 2015 (Total 4737)

Abstract:

Since the 1980s, the United States, Europe, Japan and some developing countries and regions have quickened their steps in opening oil market, making sustained efforts to improve the oil management policies and oil circulation system, in order to achieve oil security through active integration with the international oil market. The management system of petroleum circulation is an important part of oil policies in every country. The component parts of market layout, government control measures and the terminal sales network have undergone various changes with the increasing openness of the market. Marketization is the general development trend of international oil market, as well as the general direction that should be abided by in China's oil market reform. Meanwhile, the oil safety concept should be changed gradually from production dependence to market dependence. Apart from that, the oil reserve system should be given adequate importance and continuously improved to upgrade the petroleum quality standard. In addition, the change of ideas and manners of supervision should be quickened as well to further enhance the equal market competition and lead oil market onto the track of a sound development.