宝城期货原油早报-20250827

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoint The report predicts that the domestic crude oil futures contract 2510 will run weakly in the short - term, with an intraday and short - term view of oscillating weakly and a medium - term view of oscillating. Due to factors such as slow demand growth, increased supply, and the digestion of macro - positive expectations, the bearish fundamentals are dominant [1][5]. 3. Summary by Related Content - Time - period Views: For the crude oil 2510 contract, the short - term view is oscillating, the medium - term view is oscillating, and the intraday view is oscillating weakly, with an overall reference view of weak operation [1]. - Core Logic: The International Energy Agency (IEA) reports that next year the global crude oil market will face a record supply surplus due to slow demand growth and a surge in supply. Although the IEA has raised the global crude oil demand data for this year and next, the demand growth rate has declined. Crude oil inventories will accumulate at a rate of 2.96 million barrels per day, exceeding the average accumulation rate during the 2020 pandemic. After the digestion of macro - positive expectations, the bearish fundamentals take the lead. On Tuesday night, the domestic crude oil futures 2510 contract showed an oscillating and weakly - running trend, with the futures price dropping by 2.19% to 486.8 yuan per barrel. It is expected that on Wednesday, the contract will maintain an oscillating and weakly - running trend [5].