(1)In 2017,international oil prices presented a‘V-shaped’curve and broke through the operation range of USD 40-60 in early November.At present,the WTI average price in 2017 was USD 50/barrel,with a year-on-year growth of USD 7.47/barrel(+17.57%)and a fluctuation range of USD 42.53-57.35/barrel;the Brent average price was USD 53.62/barrel,with a year-on-year growth of USD 9.5/barrel(+21.54%)and a fluctuation range of USD 44.82-64.27/barrel.(2)The rebalance of the global oil market was finally achieved.In 2017,the world oil supply and demand finally achieved a rebalance after constant easing for three consecutive years in 2014-2016.Despite the good implementation by the oil-producing countries,the dramatic increase in production by the U.S.and by the countries exempt from the production reduction resulted in a slower rebalance process than expected(Fig.1).
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