The white oil market is expected to remain stable with a slight decline.

Entering the first quarter of 2020, the white oil market price has plummeted to a low level. Since mid-February, the price has started a downward channel. This is mainly affected by the outbreak of the epidemic, restrictions on logistics and transportation, and the recovery of downstream industries. The postponement caused a backlog of refinery inventories, and major refineries reduced their operating loads or temporarily suspended operations for emergency hedging. Until early and mid-April, the price of white oil increased. On the one hand, the rise in crude oil gave the market a certain positive stimulus, and on the other hand, the rise in crude oil gave the market a certain positive stimulus. On the other hand, prices and inventories of some refineries are at low levels, and refineries have moderately raised export prices. However, prices have corrected at the end of the month, and the market performance has been relatively flat in May. Low-viscosity oil prices at individual high-priced refineries have begun to fall. According to statistics from Zhongyu Information, as of May 15, the average price of 5# white oil in the domestic market was 4,250 yuan/ton, which was 112 yuan/ton lower than the price at the end of April, equivalent to a percentage of 2.58%. The domestic mainstream price of 3# industrial white oil is 4250-5600 yuan/ton, the 5# mainstream price is 4200-4900 yuan/ton, the 7# mainstream price is 4500-4800 yuan/ton, and the 10# mainstream price is 4100-4800 yuan/ton.