石油石化行业：国际原油价格上涨，美国炼油厂可运营产能利用率继续增长

Investment Rating - The industry investment rating is "Positive" [5] Core Insights - Brent crude oil prices have significantly increased month-on-month, with a closing price of $79.76 per barrel, reflecting a 10.49% increase. WTI crude oil prices also rose to $76.57 per barrel, marking an 11.63% increase [2][11] - OPEC's crude oil production increased by 122 thousand barrels per day in November, a month-on-month growth of 0.46% [3][19] - The operational capacity utilization rate of U.S. refineries continues to grow, reaching 93.30%, an increase of 0.90 percentage points from the previous month [3][20] Summary by Sections 1. Crude Oil Prices - Brent crude oil futures settled at $79.76 per barrel, up $7.57 from the previous month, a rise of 10.49%. WTI crude oil futures settled at $76.57 per barrel, up $7.98, an increase of 11.63% [11][12] 2. Supply and Demand - OPEC's crude oil production reached 26,657 thousand barrels per day in November, with a month-on-month increase of 122 thousand barrels per day [3][19] - U.S. refinery crude oil production increased to 16.47 million barrels per day, a month-on-month rise of 0.30 million barrels per day [20] 3. Inventory - As of January 3, total U.S. crude oil and petroleum product inventories decreased to 1,628,624 thousand barrels, a decline of 293 thousand barrels [24][26] 4. Imports and Exports - In December, China's crude oil imports fell to 4,784.14 million tons, a decrease of 67.86 thousand tons, or 1.40% [28][30] - U.S. crude oil exports averaged 3,892.50 thousand barrels per day in December, down 20.70 thousand barrels per day, a decline of 0.53% [32][33]