东兴证券首席周观点

Oil Prices - As of April 18, Brent and WTI crude oil futures settled at $87.11 and $82.71 per barrel, reflecting month-on-month increases of 1.55% and 1.66% respectively[81] - The ESPO crude oil spot price was $82.89 per barrel, up 1.07% from the previous month[1] - In April, OPEC crude oil spot prices reached $89.71 per barrel, marking a 6.52% increase[1] Import and Export Trends - In March, China's crude oil imports totaled 49.05 million tons, a month-on-month increase of 11.12%[2] - As of April 12, U.S. crude oil imports rose by 3.31%, while exports decreased by 3.18%[2] Market Dynamics - The average monthly price of crude oil in China (South China Sea) was $84.39 per barrel, up 5.53% month-on-month[1] - The average monthly price of crude oil in China (Shengli) was $90.95 per barrel, reflecting a 5.28% increase[1] Supply and Demand - U.S. refinery crude oil production increased by 8.12% month-on-month to 16.12 million barrels per day as of March[63] - The operating capacity utilization rate in the U.S. rose by 1.3 percentage points to 88.1%[63] Inventory Levels - As of April 12, total U.S. crude oil and petroleum product inventories increased by 1.44% month-on-month[83] - U.S. distillate fuel oil inventories decreased by 2.49% month-on-month, totaling 114,968 thousand barrels[83]