Xinda Securities·2026-01-18 13:01Investment Rating - The industry investment rating is "Positive" [1] Core Insights - The report highlights that geopolitical tensions, particularly regarding Iran, are significant factors influencing oil prices. The Brent and WTI oil prices were reported at $64.13 and $59.34 per barrel, respectively, as of January 16, 2026 [2][9]. Oil Price Overview - As of January 16, 2026, Brent crude futures settled at $64.13 per barrel, up $0.79 (+1.25%) from the previous week. WTI crude futures settled at $59.34 per barrel, up $0.22 (+0.37%). The Urals crude price remained stable at $65.49 per barrel, while ESPO crude rose by $0.49 (+0.98%) to $50.39 per barrel [2][26]. Offshore Drilling Services - As of January 12, 2026, the global number of offshore self-elevating drilling platforms was 377, an increase of 1 from the previous week. The number of floating drilling platforms was 130, also up by 1 [2][35]. U.S. Oil Supply - As of January 9, 2026, U.S. crude oil production was reported at 13.753 million barrels per day, a decrease of 58,000 barrels from the previous week. The number of active drilling rigs in the U.S. was 410, with an increase of 1 rig [2][49]. U.S. Oil Demand - U.S. refinery crude processing was 16.958 million barrels per day as of January 9, 2026, an increase of 49,000 barrels from the previous week. The refinery utilization rate was 95.30%, up 0.6 percentage points [2][57]. U.S. Oil Inventory - As of January 9, 2026, total U.S. crude oil inventories were 836 million barrels, an increase of 3.605 million barrels (+0.43%) from the previous week. Strategic oil inventories were 414 million barrels, up 214,000 barrels (+0.05%) [2][67]. Related Companies - Key companies mentioned include China National Offshore Oil Corporation (CNOOC), China Petroleum & Chemical Corporation (Sinopec), and PetroChina [2][3].