Xinda Securities·2026-04-06 11:31Investment Rating - The industry investment rating is "Positive" [1] Core Viewpoints - The report highlights that international oil prices have been fluctuating at high levels due to geopolitical tensions in the Middle East, particularly involving Iran and the U.S. [2][9] - Brent crude oil futures settled at $109.03 per barrel, up $7.14 (7.01%) from the previous week, while WTI crude oil futures rose to $111.54 per barrel, an increase of $17.06 (18.06%) [2][24] - The report indicates a decrease in the number of global offshore self-elevating drilling rigs to 367, while the number of floating drilling rigs increased to 138 [2][28] - U.S. crude oil production remained stable at 13.657 million barrels per day, with an increase in active drilling rigs to 411 [2][37] - U.S. crude oil inventories rose by 5.073 million barrels (0.58%) to 877 million barrels, with commercial inventories increasing by 5.451 million barrels (1.19%) [2][57] - The report notes that the global crude oil in-transit and floating inventory reached 1.21 billion barrels, an increase of 10.929 million barrels (0.90%) [2][69] Summary by Sections Oil Price Review - International oil prices have been influenced by escalating geopolitical tensions, particularly in the Middle East, leading to significant price fluctuations [2][9] Offshore Drilling Services - The number of global offshore self-elevating drilling platforms decreased to 367, while floating drilling platforms increased to 138 [2][28] U.S. Crude Oil Supply - U.S. crude oil production was stable at 13.657 million barrels per day, with active drilling rigs increasing to 411 [2][37] U.S. Crude Oil Demand - U.S. refinery crude oil processing decreased to 16.379 million barrels per day, with a refinery utilization rate of 92.10% [2][47] U.S. Crude Oil Inventory - Total U.S. crude oil inventories increased to 877 million barrels, with commercial inventories rising by 5.451 million barrels [2][57] Global Crude Oil Inventory - Global crude oil in-transit and floating inventory reached 1.21 billion barrels, reflecting a net increase [2][69] Refined Oil Products - In North America, average prices for diesel, gasoline, and jet fuel were reported, with diesel at $182.48, gasoline at $138.82, and jet fuel at $177.95 per barrel [2][77]