原油周报：美国、以色列轰炸伊朗，国际局势进一步紧张-20260301

1. Report Industry Investment Rating No information about the industry investment rating is provided in the content. 2. Core Viewpoints - This week, the weekly average prices of Brent/WTI crude oil futures were $71.3/$65.9 per barrel, up $1.3/$1.1 per barrel from last week [2]. - The total US crude oil inventory, commercial crude oil inventory, strategic crude oil inventory, and Cushing crude oil inventory were 8.5/4.4/4.2/0.2 billion barrels, with a week - on - week increase of 15.99/15.99/0/0.88 million barrels respectively [2]. - US crude oil production was 13.7 million barrels per day, a week - on - week decrease of 30,000 barrels per day. The number of active US crude oil rigs this week was 407, a week - on - week decrease of 2. The number of active US fracturing fleets this week was 160, a week - on - week increase of 7 [2]. - US refinery crude oil processing volume was 15.66 million barrels per day, a week - on - week decrease of 420,000 barrels per day; the US refinery crude oil utilization rate was 88.6%, a week - on - week decrease of 2.4 percentage points [2]. - US crude oil imports, exports, and net imports were 6.66/4.31/2.35 million barrels per day, with a week - on - week change of +140,000/ - 280,000/+410,000 barrels per day respectively [2]. - The weekly average prices of US gasoline, diesel, and jet fuel were $84/$112/$89 per barrel, with a week - on - week change of +$2.7/+$8.6/ - $5.1 per barrel respectively; the price spreads with crude oil were $13/$41/$17 per barrel, with a week - on - week change of +$1.0/+$6.9/ - $6.9 per barrel respectively [2]. - US gasoline, diesel, and aviation kerosene inventories were 2.5/1.2/0.4 billion barrels, with a week - on - week change of - 1.01/+0.25/ - 1.44 million barrels respectively [2]. - US gasoline, diesel, and aviation kerosene production were 9.22/4.75/1.67 million barrels per day, a week - on - week decrease of 220,000/140,000/120,000 barrels per day respectively [2]. - US gasoline, diesel, and aviation kerosene consumption were 8.73/3.90/1.72 million barrels per day, with a week - on - week change of - 20,000/ - 860,000/+130,000 barrels per day respectively [2]. - Recommended companies include CNOOC Limited (600938.SH/0883.HK), PetroChina Company Limited (601857.SH/0857.HK), Sinopec (600028.SH/0386.HK), CNOOC Oilfield Services Limited (601808.SH), Offshore Oil Engineering Co., Ltd. (600583.SH), and CNOOC Energy Technology & Services Limited (600968.SH). Companies to be noted include Sinopec Oilfield Service Corporation (600871.SH/1033.HK), China Petroleum Engineering & Construction Corporation (600339.SH), and Sinopec Mechanical & Electrical Equipment Co., Ltd. (000852.SZ) [3]. 3. Summary by Directory 2. This Week's Performance of the Petroleum and Petrochemical Sector 2.1 Performance of the Petroleum and Petrochemical Sector No specific performance data is provided in the content. 2.2 Performance of Listed Companies in the Sector - The table shows the latest prices, total market values, and price changes in the past week, month, three months, and year of multiple listed companies in the petroleum and petrochemical sector, such as CNOOC Limited, PetroChina Company Limited, and Sinopec [22]. - The valuation table presents the stock prices, total market values, net profits attributable to the parent company, PE, and PB of multiple listed companies from 2024 to 2027 [24]. 3. Crude Oil Sector Data Tracking 3.1 Crude Oil Prices - Analyzes the price relationships and spreads between various crude oils, such as Brent, WTI, Russian Urals, and ESPO crude oils, as well as the relationships between the US dollar index, LME copper price, and WTI crude oil price [29][34][38]. 3.2 Crude Oil Inventory - Discusses the correlation between US commercial crude oil inventory and oil prices from 2010 to February 2026, and shows the data of US total crude oil inventory, commercial crude oil inventory, strategic crude oil inventory, and Cushing crude oil inventory [40][45][52]. 3.3 Crude Oil Supply - Shows the US crude oil production, the number of crude oil rigs, and the number of fracturing fleets [58][60][61]. 3.4 Crude Oil Demand - Presents the US refinery crude oil processing volume, refinery utilization rate, and the seasonal utilization rates of Shandong and Chinese major refineries [66][68][71]. 3.5 Crude Oil Import and Export - Displays the US crude oil imports, exports, and net imports, as well as the imports, exports, and net imports of crude oil and petroleum products [75][77]. 4. Refined Oil Sector Data Tracking 4.1 Refined Oil Prices - When the international crude oil price is above $80 per barrel, the increase in domestic gasoline and diesel prices slows down, and enterprises bear the profit reduction caused by cost changes. When the international crude oil price is at $80 per barrel, the spreads between domestic gasoline/diesel and crude oil reach their phased highs [82]. - Analyzes the relationships between international crude oil prices and domestic gasoline, diesel, and aviation kerosene prices and spreads from 2017 to February 2026 [85][87][102]. 4.2 Refined Oil Inventory - Shows the inventory data of US gasoline, diesel, aviation kerosene, and Singapore gasoline and diesel [120][125][135]. 4.3 Refined Oil Supply - Presents the production data of US gasoline, diesel, and aviation kerosene [137][139]. 4.4 Refined Oil Demand - Displays the consumption data of US gasoline, diesel, and aviation kerosene, as well as the number of US airport passenger security checks [143][144][152]. 4.5 Refined Oil Import and Export - Shows the import, export, and net export data of US gasoline, diesel, and aviation kerosene [154][159][160]. 5. Oilfield Services Sector Data Tracking - Analyzes the average daily rates of self - elevating and semi - submersible drilling platforms in the industry [170][174].