地缘冲突升温，国际油价上涨 | 投研报告

Group 1 - The core viewpoint of the report indicates that international oil prices have risen due to a slowdown in OPEC+ production increases, compensatory cuts by member countries, and geopolitical tensions involving the U.S. and Russia, as well as ongoing conflicts in the Middle East and Ukraine [1][2]. Group 2 - As of September 12, 2025, Brent crude oil futures settled at $66.99 per barrel, an increase of $1.49 per barrel (+2.27%) from the previous week, while WTI crude oil futures settled at $62.69 per barrel, up $0.82 per barrel (+1.33%) [2]. - The price of Russian Urals crude remained stable at $65.49 per barrel, and Russian ESPO crude also held steady at $62.78 per barrel [2]. Group 3 - As of September 1, 2025, the number of global offshore self-elevating drilling rigs was 372, a decrease of 1 rig from the previous week, while the number of floating drilling rigs increased by 2 to a total of 133 [2]. Group 4 - As of September 5, 2025, U.S. crude oil production was 13.495 million barrels per day, an increase of 72,000 barrels per day from the previous week, with active drilling rigs rising to 416 [3]. - U.S. crude oil total inventory reached 830 million barrels, an increase of 4.453 million barrels (+0.54%) from the previous week, with strategic reserves at 405 million barrels, up 514,000 barrels (+0.13%) [3]. Group 5 - As of September 5, 2025, U.S. gasoline and diesel inventories increased by 145,800 barrels (+0.67%) and 471,500 barrels (+4.07%) respectively, while aviation kerosene inventory rose by 47,400 barrels (+1.11%) [4].