国际原油价格形成中的美国影响机制研究

ResearchonMechanismofAmericanInfluenceonFormationofInternationalCrudeOilPrice

中文关键词:  定价权  基准油  原油期货  

英文关键词:pricing power  reference oil  crude oil futures

中文摘要:

      由于缺少话语权,中国只能被动接受国际市场中已经形成的原油价格,并遭受了重大损失。国际原油价格的形成过程表面上看是一种完全的市场行为,但实际上受到了美国的重大影响。美国掌控了国际原油价格形成体系中的核心要素(基准油)及其交易场所(纽约商品期货交易所),并凭借以美元为核心的国际金融体系和发达的资本市场影响着原油期货的价格形成,进而左右着国际原油价格的走势。中国只有加快国内原油市场和资本市场的建设和国际化进程,才有可能争取到国际原油价格形成中的话语权。

英文摘要:

      Due to the lack of powerful voice,China has to accept passively the price of crude oil in international market and has sustained a great loss.The formation of international crude oil price is not an absolute market behavior as it seems.In fact,it is greatly influenced by the U.S.A.,which controls the core element(reference oil) in the formation of international crude oil price, and the bourse NYMEX.Moreover,in light of US Dollar-dominated international financial system and the advanced capital market ,the U.S.A.can influence the pricing formation of crude oil futures,which further decides the trend of international crude oil price.Not until China accelerates the construction of domestic crude oil market and capital market as well as its internationalization process,can China be likely to have the right to speak and let out its voice in the formation of crude oil price.