现行国际石油价格体系下的中国石油定价研究

发布时间：2018-04-22 10:19

  本文选题：石油定价体系 + 金融属性　； 参考：《对外经济贸易大学》2017年硕士论文

【摘要】：本文通过对现行国际和国内石油定价体系的研究,探讨当前的国际环境下建立市场化石油定价体系,提升中国在国际石油定价话语权的方法途径。本文从宏观和虚拟的角度,对石油定价理论、相关文献和定价体系的演变进行梳理,得出以布伦特和WTI等原油期货合约为主要基准价格,原油期货市场为定价场所的国际石油价格体系的内在成因。并基于此,建立的原油现货和期货价格定价公式和模型。通过定性分析的方法对主要基准原油市场展开研究,指出市场充分的流动性、市场交易的透明性、基准原油股权的多元化是这些市场具有定价权的关键特性。在国内石油定价机制方面,则采用静态对比法,剖析现行定价机制和存在的问题,这也是造成中国缺少石油定价权和话语权的主要原因。研究表明,中国只有拥有自己的原油期货市场,才能扩大在石油定价体系中的影响力。因此,本文结合上述基准市场的共性提出了建立国内成熟完善的期货市场的可行性观点。
[Abstract]:By studying the current international and domestic oil pricing systems, this paper discusses the ways to establish market-oriented oil pricing system under the current international environment and to promote China's right to speak in international oil pricing. This paper combs the evolution of oil pricing theory, related literature and pricing system from macroscopic and fictitious angles, and draws a conclusion that the crude oil futures contracts such as Brent and WTI are the main benchmark prices. The internal cause of the international oil price system in which the crude oil futures market is the place of pricing. Based on this, the pricing formula and model of crude oil spot and futures prices are established. Through the qualitative analysis of the main benchmark crude oil markets, it is pointed out that the market has sufficient liquidity, the transparency of the market transactions, and the diversification of benchmark crude oil equity is the key characteristics of these markets with pricing power. In the aspect of domestic oil pricing mechanism, static contrast method is adopted to analyze the current pricing mechanism and existing problems, which is also the main reason for the lack of pricing power and discourse power in China. Research shows that only if China has its own crude oil futures market can it expand its influence in the oil pricing system. Therefore, this paper puts forward the feasibility view of establishing domestic mature futures market according to the commonness of the benchmark market mentioned above.
【学位授予单位】：对外经济贸易大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F764.1;F426.22
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本文编号：1786792