The relationship between supply and demand determines the trend of oil price, and the fundamental factors of asphalt supply and demand determine the long-term trend of asphalt price. Because asphalt is a non-renewable resource, the short-term supply elasticity of asphalt is small, so in the absence of new large-scale oil fields and major technological innovations, the most important factor affecting asphalt prices is the world economic development that determines asphalt demand.

Second, oil stocks.

Oil inventory affects the expectation of oil price fluctuation. Petroleum inventory is divided into commercial inventory and strategic reserve. The main purpose of commercial inventory is to ensure the efficient operation of enterprises and prevent the potential shortage of asphalt supply under the seasonal fluctuation of oil demand. The main purpose of the national strategic reserve is to deal with the oil crisis.