Airlines to take hit from rising oil price

Chinese airlines are expected to bear the brunt of a rising oil price after OPEC came to an agreement to limit production, and airlines are likely to levy fuel surcharges on domestic and international flights, experts said.

On Wednesday, OPEC reached a consensus on production cuts to ease excess global inventory, sending oil prices jumping.

"The oil price rise will have a certain negative effect on domestic airlines. Airlines have very weak abilities to resist the fluctuations of oil prices, and it will be a challenge to the business growth of airlines," said Li Xiaojin, a professor of aviation economics at the Civil Aviation University of China in Tianjin.