原油日报：2026年中国非国营原油进口配额下发-20251128

Group 1: Market News and Important Data - New York Mercantile Exchange's January light crude oil futures rose 20 cents to close at $58.86 per barrel, a 0.22% increase; January Brent crude oil futures rose 40 cents to close at $63.53 per barrel, a 0.76% increase. SC crude oil's main contract closed up 1.46% at 452 yuan per barrel [1] - Canada's Prime Minister Mark Carney and Alberta announced a comprehensive energy plan to pave the way for new oil pipelines, large - scale carbon capture projects, and nuclear power supply for data centers, aiming for net - zero emissions in the energy sector by 2050 [1] - As of the week ending November 26, Singapore's fuel oil inventory rose 191,000 barrels to 24.709 million barrels; light distillate inventory fell 898,000 barrels to 13.524 million barrels; middle distillate inventory fell 1.954 million barrels to 8.007 million barrels [1] - On November 26 at 11:30 p.m., a drone attacked the Khor Mor gas field in Iraq, cutting off the gas supply to the power station and causing a major gas storage tank to catch fire, with no casualties [1] - Hungary's Prime Minister Orban's chief of staff said that involving Hungary's oil and gas company might be a solution for Serbia's refinery situation, and negotiations on Serbia's NIS are ongoing [1] - The US Environmental Protection Agency finalized a new rule giving oil and gas operators over a year's grace period to comply with Biden - era methane leakage regulations, expected to save about $750 million in compliance costs over the next decade [1] Group 2: Investment Logic - On November 26, Beijing allocated the first batch of 2026 crude oil import quotas to non - state - owned enterprises. The total amount of 7.4 million tons was lower than expected but 1.4 million tons more than the same period last year. It helps ease the quota shortage of private refineries, but in the medium - term, private large - scale refineries may squeeze local refineries' quotas, and quota management is a key measure to combat involution in the refining industry [2] Group 3: Strategy - Oil prices are expected to fluctuate in a short - term range, with a medium - term short - position configuration and shorting the monthly spread [3] Group 4: Risk - Downside risks include a peace agreement between Russia and Ukraine and macro black - swan events - Upside risks include tightened supply of sanctioned oil (from Russia, Iran, Venezuela) and large - scale supply disruptions due to Middle East conflicts [4]