建信期货原油日报-20260120

Report Information - Report Title: Crude Oil Daily [1] - Date: January 20, 2026 [2] - Research Team: Energy and Chemical Research Team [4] - Researchers: Li Jie (Crude Oil and Asphalt), Ren Junchi (PTA, MEG), Peng Jinglin (Polyolefins), Liu Youran (Pulp), Feng Zeren (Glass and Soda Ash) [4] 1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints - The US is accelerating the takeover of Venezuela's oil industry and has started selling the first batch of Venezuelan oil, which is marginally bearish for the supply side. Venezuela is likely to achieve a daily output increase of 100,000 barrels this year. The situation in Iran has cooled down, but the US still retains the option to strike. Geopolitical conflicts that do not substantially affect crude oil production and exports will be good selling points. It is expected that short - term oil prices will follow the Middle East situation, and it is advisable to be cautious about chasing up [6]. 3. Summary by Directory 3.1 Market Review and Operation Suggestions - Market Review: WTI's opening price was $59.17, closing at $59.22, with a high of $60.05, a low of $58.81, a daily increase of 0.24%, and a trading volume of 27.18 million hands. Brent's opening price was $63.74, closing at $64.20, with a high of $64.77, a low of $63.44, a daily increase of 0.69%, and a trading volume of 31.52 million hands. SC's opening price was 443.2 yuan/barrel, closing at 437.4 yuan/barrel, with a high of 446.4 yuan/barrel, a low of 436.7 yuan/barrel, a daily decrease of 0.52%, and a trading volume of 7.79 million hands [6]. - Operation Suggestions: It is expected that short - term oil prices will follow the Middle East situation, and it is advisable to be cautious about chasing up [6]. 3.2 Industry News - Russia's seaborne oil product exports in December increased by 17% compared to November. Angola's crude oil exports in March are expected to be 1.09 million barrels per day. Iran's Supreme Leader Khamenei stated that Iran will not drag the country into war but will not let criminals at home and abroad go unpunished, and those associated with Israel and the US caused large - scale damage and thousands of deaths in the protests [7]. 3.3 Data Overview - The report provides multiple data charts, 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, with data sources from Bloomberg, EIA, and Wind [9][13][20][22]