金融英语阅读：Diesel drain not the bogeyman
The two Chinese oil giants, China Petroleum & Chemical Corporation (Sinopec) and China National Petroleum Corp (CNPC), have stated that the diesel shortage is going to be solved by the end of next month, according to a NBD.com.cn report Thursday.Xia Shixiang, vice general manager of Sinopec, confirmed recently that the company's diesel reserves, as well as oil's, have shrunken. He further added that the reserves are resuming on track, and that one month will be plenty for a recovery as long as international prices don't surge much.
On the report, insiders from CNPC revealed the company's actual processing quantity has reached over 400,000 tons per day, a historic high.
Liao Shunjun, analyst with the C1 Energy, said that international oil prices have dropped consecutively recently, and the two giants have signaled for a supply surcharge, which leaves less margin for the oil speculators. Liao believed the diesel shortage will soon be solved.
In unsaturating the colorful optimism, some analysts are predicting that the crisis-pointing picture cannot end, but only gets eased, as other factors like electricity will cause demand for diesel to go up.
According to data released by the Xinhua News Agency last month, diesel inventory countrywide dropped 8.6 percent compared with the previous month. And in October, the figure declined 10.7 percent compared with September.
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