供应过剩担忧加剧 美国原油期货贴水率降至20个月低点

Group 1 - The core point of the articles highlights a narrowing spread between near-term and future WTI crude oil futures, indicating a potential oversupply in the market due to increased OPEC+ production and seasonal refinery maintenance in the U.S. [1][2] - As of Monday, the WTI crude oil futures for November settled at $59.49 per barrel, while the May 2026 contract was at $59.02, resulting in a 47-cent spot premium, the smallest since January 16 of the previous year [1] - OPEC+ has raised its oil production target by over 2.7 million barrels per day this year, which is approximately 2.5% of global demand, raising concerns about oversupply [1] Group 2 - The WTI crude oil curve is flattening as the market anticipates a less tight supply-demand balance in early 2026 [2] - U.S. refinery utilization rates have declined for four consecutive weeks, averaging 92.5%, reaching the lowest level since the beginning of June [2] - Increased physical inventories and reduced refinery output are leading to decreased demand for spot crude oil, thereby alleviating upward price pressure [2]