建信期货原油日报-20251112

Report Overview - Report Title: Crude Oil Daily Report - Report Date: November 12, 2025 - Report Industry: Energy and Chemicals Core Viewpoint - The short - term market lacks drivers and is expected to move sideways, while the medium - term oil prices still face continuous oversupply pressure. It is recommended to try short positions on rebounds [6][7] Section Summaries 1. Market Review and Operation Suggestions - Market Quotes: WTI's opening price was $59.87, closing at $60.05, with a high of $60.48, a low of $59.41, a daily increase of 0.50%, and a trading volume of 19.61 million hands. Brent's opening price was $63.8, closing at $63.94, with a high of $64.34, a low of $63.32, a daily increase of 0.49%, and a trading volume of 27.31 million hands. SC's opening price was 460.5 yuan/barrel, closing at 458.8 yuan/barrel, with a high of 462.1 yuan/barrel, a low of 457 yuan/barrel, a daily decrease of 0.30%, and a trading volume of 7.15 million hands [6] - News: The US government shutdown issue is expected to be resolved, supporting the recovery of market risk appetite. The overseas assets of Lukoil are continuously affected by US sanctions, and the West Qurna - 2 oilfield project is under force majeure and may withdraw from operation later [6] - Supply and Demand: OPEC+ has decided to temporarily stop increasing production in the first quarter of next year, which is marginally positive for the supply side. However, the inventory accumulation rate in the first quarter of next year may reach 3 million barrels per day, and the current policies alone are difficult to reverse the oversupply [6] - Operation Suggestion: Try short positions on rebounds [7] 2. Industry News - Saudi Arabia and Iraq have allocated their entire December crude oil supplies to Indian refiners - Two Indian state - owned enterprises have bought 5 million barrels of oil from the US and the Middle East - Iraq's SOMO has cancelled three crude oil cargoes originally scheduled to be shipped by Lukoil in November - Lukoil has declared force majeure on the West Qurna - 2 project in Iraq and warned that it may withdraw from the project if the situation persists [8] 3. Data Overview - Multiple data charts are presented, including global high - frequency crude oil inventory, EIA crude oil inventory, US crude oil production growth rate, Dtd Brent price, WTI spot price, Oman spot price, US gasoline consumption, and US diesel consumption [9][13][20]