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The impact of low oil prices on China's petroleum equipment exports

2023-08-18 16:47 7347 views

‌In recent years, due to the impact of low oil prices, China's petroleum equipment has also been severely affected in terms of exports. This is roughly reflected in the following aspects: 

firstly, the long-term low trend of oil prices has led to a downward trend in the demand for petroleum equipment in the market. At present, in the context of the continuous decline in international oil prices, many international oil companies have reduced their equipment investment plans in upstream fields such as oil exploration, or postponed the implementation plans of registered equipment construction projects. These have to some extent led to the problem of supply and demand imbalance in the market for oil equipment, ultimately causing adverse effects on China's oil equipment export business; 

Secondly, the energy industry has always been closely related to the international competitiveness of a country. Therefore, the continuous decline in international oil prices has led to increasingly fierce competition among international markets. In the context of the continuous development of the market economy, the pattern of domestic petroleum equipment resources has also changed, and more and more non-state-owned resources have also flowed into the petroleum equipment market. In the context of low oil prices, the diversified development of market entities and the increasing number of competitors, some non-state-owned resources often choose "penetration strategies" to participate in market competition in order to maintain competitiveness and quickly occupy the market, Ultimately, it leads to frequent occurrence of malicious competition in some market sectors; 

Thirdly, the export standards and policies for petroleum equipment are becoming increasingly strict. To promote the development of export business in China's petroleum equipment industry, it is not only necessary to meet the national export requirements for petroleum equipment, but also to meet the standards and policies set by export regions for petroleum equipment. Against the backdrop of low oil prices, China's petroleum equipment manufacturing enterprises exporting to different countries and regions face multiple challenges such as different standards and policies, resulting in huge challenges for China's petroleum equipment exports and even difficulties in development.

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