Sinopec suffers huge losses
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What do everyone think about Sinopec United Petrochemical’s huge losses in crude oil futures?
It’s the inevitable outcome of state-owned enterprises having absolute control; besides, it’s not their own money anyway
Some netizens suspect there is an exchange of favors~
In futures trading, it is necessary to make accurate predictions.
Oil futures are not a business; they are political economics. Strategic vision is required to manage this effectively; as a result, the bosses of the three major oil companies still seem somewhat inexperienced in this regard. But it’s okay against me.
The issue of huge losses relates to two aspects: capital management and the failure to implement strict stop-loss rules; if you’re not sure, it’s better not to take action.
It’s not just Sinopec; domestic refineries are all in the same situation. The crude oil being refined now is the futures contracts with higher prices from a few months ago. But now that the price of crude oil has dropped, the prices of refined products have also fallen accordingly. With rising costs and lower prices for refined products, how can there be no losses?
Futures trading is different from spot trading; success or failure depends on skills and luck. However, such incidents often occur in large state-owned enterprises, and it’s likely that management plays some role in this.
Great undertakings involve a kind of selective high-stakes gamble.
This is what state-owned enterprises are like: anyway, the money isn’t theirs, so they take a gamble,,,
All I can say is, people: lol, so much money! Cui Yongyuan is right; leave it to me – if I work on it for half a year and suffer losses, I’ll step down myself. Anyway, the salary whether there’s a profit or a loss is quite good; it’s better to deal with outsiders than to keep household slaves, and there’s no need to expect gasoline prices to drop.