Report Summary 1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - The crude oil market is expected to be in a weak and volatile trend in the short - to - medium term. With the weakening of previous macro - positive driving factors and geopolitical factors, the market has returned to being dominated by supply - and - demand fundamentals. Currently, both macro and industrial factors in the crude oil market remain weak. The production increase measures of OPEC+ countries will add to the supply pressure, and the domestic crude oil futures 2512 contract is likely to maintain a weak and volatile trend on Wednesday [1][5] 3. Summary by Relevant Content Price and Trend - The domestic crude oil futures 2512 contract is in a state of "weak operation". In the short term, the view is "volatile", in the medium term it is "weak and volatile", and on the day it is also "weak and volatile". The core logic is that the geopolitical premium has faded, and the market has returned to supply - and - demand fundamentals [1][5] Market Driving Factors - After the weakening of previous macro - positive driving factors and geopolitical factors, the crude oil market has returned to being driven by supply - and - demand fundamentals. The current macro and industrial factors in the crude oil market are still weak [5] Supply - Side Situation - Eight OPEC+ oil - producing countries have decided to increase production in November, with an additional output of 137,000 barrels per day, which is seen as an attempt to seek a larger market share, and this has increased the supply pressure in the oil market [5] Market Performance - On Tuesday night, the domestic crude oil futures 2512 contract returned to a weak state, with the futures price closing down 1.78% to 458.1 yuan per barrel [5]
宝城期货原油早报-20251029
Bao Cheng Qi Huo·2025-10-29 01:53