建信期货原油日报-20250923

Group 1: Report Overview - Report Title: Crude Oil Daily [1] - Report Date: September 23, 2025 [2] - Research Team: Energy and Chemical Research Team [4] Group 2: Investment Rating - No investment rating provided in the report Group 3: Core View - The increase in US crude oil exports has led to a significant reduction in crude oil inventories, but the weekly export volume fluctuates greatly. Refinery crude oil input has started to decline, and refineries will enter the maintenance season, resulting in a phased decline in demand. Distillate inventories have been increasing since July, and diesel consumption is weak. EIA and IEA have raised global crude oil supply expectations, and oil prices will continue to be under pressure in the medium term. Adopt a short - selling strategy and short on rallies [6] Group 4: Market Review and Operation Suggestions Market Review | Futures | Opening Price ($/barrel) | Closing Price ($/barrel) | High Price ($/barrel) | Low Price ($/barrel) | Change (%) | Trading Volume (10,000 lots) | | ---- | ---- | ---- | ---- | ---- | ---- | ---- | | WTI | 63.28 | 62.36 | 63.35 | 62.2 | -1.42 | 24.97 | | Brent | 66.94 | 66.05 | 67.05 | 65.85 | -1.3 | 32.86 | | SC (Yuan/barrel) | 485.2 | 483 | 487.4 | 481.8 | -1.67 | 9.61 | [6] Operation Suggestions - Oil prices are under medium - term pressure. Adopt a short - selling strategy and short on rallies [6] Group 5: Industry News - Kuwait's oil minister: Kuwait will increase oil production to 2.559 million barrels per day in October 2025 according to the OPEC+ agreement. OPEC+ production increases since April have improved the supply - demand balance, and the production increase can be suspended or reversed. Global oil demand is recovering as inventories fall below the five - year average. Kuwait's crude oil production capacity is 3.2 million barrels per day [7] - Trump pressured European countries to stop buying Russian oil [7] - French President Macron: Europe imports very little oil and gas from Russia [7] Group 6: Data Overview - The report provides figures on global high - frequency crude oil inventories, EIA crude oil inventories, US crude oil production growth rate, Dtd Brent price, WTI spot price, Oman spot price, US gasoline consumption, and US diesel consumption, with data sources from EIA, Bloomberg, Wind, and Jianxin Futures Research and Development Department [10][11][14][21]