建信期货原油日报-20250703

Group 1: General Information - Report date: July 3, 2025 [2] - Report type: Crude Oil Daily [1] Group 2: Market Review and Operational Suggestions - Market performance: WTI's opening price was $64.96, closing at $65.53, with a high of $65.98, a low of $64.67, a daily increase of 0.65%, and trading volume of 17.29 million lots; Brent's opening price was $66.58, closing at $67.28, with a high of $67.50, a low of $66.34, a daily increase of 0.81%, and trading volume of 27 million lots; SC's opening price was 503.1 yuan/barrel, closing at 498.2 yuan/barrel, with a high of 503.8 yuan/barrel, a low of 495.6 yuan/barrel, a daily increase of 0.24%, and trading volume of 13.75 million lots [6] - Supply - demand analysis: In the supply side, in the first month of OPEC's increased production, 8 member countries basically achieved the planned increase. There's a possibility of OPEC+ further increasing production. In the demand side, due to the suspension of China - US tariff disputes, crude oil demand expectations improved, but considering the supply growth in countries like Brazil and Guyana, the market will maintain a pattern of inventory accumulation in the second half of the year [7] - Operational suggestion: Oil prices are gradually returning to fundamental - driven, and in the short - term, they are expected to fluctuate. It's advisable to wait and see [7] Group 3: Industry News - Goldman Sachs believes that if OPEC+ decides to increase production on Sunday, the market may not have a significant reaction as market expectations have shifted towards this outcome [8] - Saudi Arabia's crude oil exports in June increased by 450,000 barrels per day month - on - month to 6.33 million barrels per day, reaching the highest level in over a year [8] - Kazakhstan's crude oil production in June increased by 7.5% month - on - month to 1.88 million barrels per day, hitting a historical high. Its first - half production increased by 13% year - on - year to 1.79 million barrels per day [8] Group 4: Data Overview - The report presents multiple data charts, including global high - frequency crude oil inventory, WTI and Brent fund positions, and various oil price charts [10][11][18]