Sublime China Information (SZ:301299) Xin Jing Bao·2026-01-06 09:16Core Viewpoint - The domestic refined oil retail price adjustment on January 6, 2026, resulted in no changes, maintaining stable fuel costs for residents and logistics in the short term [1][2]. Group 1: Price Adjustment and Market Impact - The first price adjustment of 2026 was suspended due to the average price change being less than 50 yuan per ton, as per the current pricing mechanism [1]. - The next price adjustment window is set for January 20, 2026, with expectations of a slight decrease based on current international oil prices [2]. Group 2: Supply and Demand Dynamics - During the current pricing cycle, both gasoline and diesel wholesale prices showed a downward trend, influenced by a decline in international oil prices and stable supply [3]. - Analysts predict that 2026 will see a primary focus on inventory reduction in the refined oil market, with increased pressure on refineries due to declining consumption and the need to manage inventory risks [4]. Group 3: International Oil Price Trends - The international oil market is experiencing a weak and fluctuating trend, with geopolitical tensions providing temporary support, but overall supply excess continues to weigh on prices [5][6]. - The U.S. is currently in a demand slump, leading to rising oil inventory levels, which further contributes to the bearish outlook for international oil prices [5][6].