PetroChina fixed October inner settlement price of Daqing crude at Yuan 6,124/mt with tax inclusive, down by Yuan 75/mt or 1.2% on month, according to a source with the oil tycoon.
The price was calculated on the basis of changes in international crude prices during Aug 26-Sep 25, when FOB price of the main benchmark crude Cinta dropped by US$0.835/bbl on month to US$112.595/bbl, C1's record showed.
Although Daqing crude price declined for the second consecutive month, the price was still at relatively high level; therefore, refining margins of major refineries may not improve substantially in the near term, market sources said.
PetroChina's October inner settlement prices of most crude fell by Yuan 75-200/mt.
