Settle High Oil Price Problem to Assure Oil Sustainable Supply

Influenced by many facts of a surge in the world's petroleum demand, low oil inventories, OPEC in adhering to production cutbacks, dollar devaluation, the political unrest in petroleum producing countries, and the international risk capital,the oil price is climbing up continuously. As a result, the average monthly import oil price is also going up continuously in China. In April, the price exceeded $250 per ton. It is worthy noting that though the major part of crude oil import is from Middle East Area, the percentage of oil from Asia Pacific area is growing, which shows that the diversified oil import strategy has been put into practice. The high oil price may have a great impact on China's economy. Therefore, the measures, such as innovating trade mode, opening futures market,increasing petroleum exploration investment,establishing crude oil stock and encouraging saving will have pro-nounced effects on ensuring the fast and steady growing of China's economy.