PetroChina fixed July inner settlement price of Daqing crude at Yuan 6,270/mt with tax inclusive, down Yuan 101/mt or 1.6% on month, according to a source with the oil tycoon.
The price was calculated on the basis of changes in international crude prices during May 26-Jun 25, when FOB price of main benchmark crude Cinta fell to US$113.632/bbl, down US$1.42/bbl on month, C1's record showed.
PetroChina's July inner settlement prices of most crude declined Yuan 100-150/mt.
Major Chinese refineries are expected to saw rising refining margins on hefty losses in international crude prices, despite soft refined product market, said refinery sources.
