一、拜登试图压制我国经济的反应 拜登这次真是没有预料到，他竟然试图通过马六甲海峡对我国进行经济压制。然而，令他震惊的是，我国仅动用了一个省的力量，就成功制约了他的行动。 美国一直试图限制我国的发展，而拜登这次挑选马六甲海峡作为突破口，企图通过这一重要的海上通道施加经济压力。结果，我国丝毫没有畏惧，很快新疆 省出手，施展了一番精妙的操作，彻底破坏了美国的阴谋。此举不仅打击了美国的计划，还让我国的石油供应得以顺利畅通。新疆的英勇行动为国家争光， 接下来，我们将详细了解这一切是如何发生的。 能源危机的影响不仅限于我国，历史上，美国和前苏联都曾因能源问题而陷入深刻的经济困境。1970年代，美国因为石油价格飙升，导致通货膨胀加剧，经 济陷入停滞。此时，美国正面临越南战争的巨大开支，石油价格的急剧上涨使得经济进一步恶化，整个1970年代美国经济几乎没有增长。而苏联，依赖石油 出口的国家，也未能逃脱能源危机的噩梦。原油价格的暴跌使苏联经济受创，最终推向了崩溃的边缘。与此同时，长期的阿富汗战争加剧了苏联的困境。强 大的苏联，在能源危机面前依然无力应对，最终解体。如今，美国竟然对我国实施类似的压制，目的就是将我国推向能源危机的 ...

Core Viewpoint - The U.S. Treasury Department is implementing sanctions on companies importing Iranian oil to exert pressure on Iran's economy [1] Group 1: Sanctions Impact - The sanctions aim to limit Iran's oil revenue, which is crucial for its economy [1] - Companies involved in importing Iranian oil will face financial penalties and restrictions [1] Group 2: Industry Response - The oil industry may experience increased volatility due to these sanctions [1] - Companies may need to reassess their supply chains and sourcing strategies in light of the new sanctions [1]

根据OPEC+协议，哈萨克斯坦本月原油日产量应略低于140万桶。据彭博社根据能源部数据和7.33的吨 桶换算率计算，哈萨克斯坦5月计划产量（包括未计入OPEC+限额的凝析油）约为200万桶/日。哈萨克 斯坦通常每天生产约26万桶凝析油，这是一种轻质石油。 在与OPEC+其他成员国的紧张关系中，哈萨克斯坦一直坚称，对于由外国公司运营的国内项目，其对 生产决策的影响力有限。 上周，雪佛龙公司首席执行官迈克·沃斯向分析师表示，该公司未收到政府限制其大规模腾吉兹石油项 目产量的指示，该项目是哈萨克斯坦近期产量激增的主要原因。意大利埃尼公司也就其巨大的卡沙甘油 田发表了类似评论。 （文章来源：金十数据） 据外媒报道，哈萨克斯坦能源部表示，该国5月无减产石油计划。哈萨克斯坦因持续突破石油产量限 额，在石油输出国组织及其盟友（OPEC+）内部制造了紧张局势。据该国能源部称，作为中亚最大的 石油生产国，哈萨克斯坦5月原油和凝析油日均产量将为27.7万吨，与4月持平，而3月为26万吨。 在过去两个月里，石油输出国组织及其盟友一致同意大幅增加石油产量，这一举措令交易商感到意外， 并导致油价下跌。这一行动在很大程度上是由于该组织的 ...

摘要：【图】2025年1-3月广东省石油焦产量数据分析 2025年1-3月石油焦产量分析： 据国家统计局数据，在2025年的前3个月，广东省规模以上工业企业石油焦产量累计达到了113.2万吨， 与2024年同期的数据相比，下降了3.8%，增速较2024年同期低44.2个百分点，增速较同期全国高0.8个 百分点，约占同期全国规模以上企业石油焦产量806.3万吨的比重为14.0%。 图表：广东省石油焦产量分月（累计值）统计 2025年3月石油焦产量分析： 单独看2025年3月份，广东省规模以上工业企业石油焦产量达到了39.0万吨，与2024年同期的数据相 比，3月份的产量下降了3.1%，增速较2024年同期低43.0个百分点，增速较同期全国低0.2个百分点，约 占同期全国规模以上企业石油焦产量274.1万吨的比重为14.2%。 图表：广东省石油焦产量分月（当月值）统计 注：主要能源产品产量月度统计范围为规模以上工业法人单位，即年主营业务收入2000万元及以上的工 业企业。 产业调研网为您提供更多 石油化工行业最新动态 石油发展现状及前景预测 化工市场调研及发展趋势 日化行业监测及发展趋势 润滑油未来发展趋势预测 ...

数据还显示，上周美国炼厂日均原油加工量为1610万桶，环比下降0.7万桶；上周美国炼厂平均开工率 为89%，高于前一周的88.6%；上周美国日均汽油供应量为871.7万桶，环比减少38.1万桶；上周美国日 均原油净进口量为205万桶，环比显著增加67.3万桶。 新华财经纽约5月7日电（记者刘亚南） 由于投资者继续对石油需求前景感到担忧，国际油价7日冲高回 落，震荡收跌。 截至当天收盘，纽约商品交易所6月交货的轻质原油期货价格下跌1.02美元，收于每桶58.07美元，跌幅 为1.73%；7月交货的伦敦布伦特原油期货价格下跌1.03美元，收于每桶61.12美元，跌幅为1.66%。 美国上周汽油库存意外增加，加剧了市场对石油需求前景的担忧。美国能源信息局在当日公布的数据显 示，上周美国商业原油库存量为4.384亿桶，环比下降200万桶。但同期，美国汽油库存却环比增加20万 桶。 瑞穗证券美国公司能源期货业务负责人鲍勃·约格尔（Bob Yawger)提示，这是几周以来，汽油消费首次 出现利空。 值得注意的是，上周美国库欣地区商业原油库存量为2500万桶，环比减少70万桶；上周美国战略原油储 备规模为3.99亿桶，环比 ...

据国际文传电讯社：俄罗斯总统普京与委内瑞拉总统就能源和石油问题进行了会谈。 ...

Financial Data and Key Metrics Changes - In Q1 2025, the company achieved revenues on a TCE basis of $79.3 million and adjusted EBITDA of $56.4 million. Net income was reported at $44.1 million, equating to $0.27 per share. After adjusting for a $19.8 million gain on the sale of a vessel, the net profit for the quarter was $24.3 million, or $0.15 per share [6][7][10] - The average TCE for vessels in the spot market was $36,300 per day, while vessels on time charters earned $42,700 per day, resulting in a combined average TCE of $38,200 per day for the quarter [6][10] - The company ended the quarter with total liquidity of $277 million, consisting of $80.5 million in cash and $196.2 million available under revolving credit facilities. Financial leverage was reported at 16.9% based on market values for the ships [7][10] Business Line Data and Key Metrics Changes - The company sold the DHT Scandinavia for $43.4 million, recording a capital gain of $19.8 million during the quarter. The proceeds will be allocated to general corporate purposes, including investments in vessels and share buybacks [10][17] - Two time charter contracts were entered into: DHT China at $40,000 per day for one year and DHT Tiger at $52,500 per day for one year [10][11] Market Data and Key Metrics Changes - The company expects to have 780 time charter days covered for Q2 2025 at $42,200 per day, an improvement compared to the prior quarter. The current spot market is strong, with an estimated spot P&L breakeven of $17,500 per day for Q2 [14][15] - The VLCC fleet is projected to shrink as demand for services grows, with an estimated 441 VLCCs older than 15 years by the end of 2026 [21][22] Company Strategy and Development Direction - The company aims to fine-tune its fleet profile based on customer feedback and market conditions, focusing on investing in ships rather than share buybacks or further strengthening the balance sheet [29] - The company plans to expand its fleet with four new ships in the first half of 2026, which will provide additional earnings days [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market, noting that OPEC's strategy could lead to a robust summer market, which is atypical for the season [55] - The company believes that both scenarios regarding Iranian sanctions could positively impact the VLCC business, whether sanctions are lifted or maintained [60][61] Other Important Information - The company declared a quarterly cash dividend of $0.15 per share, marking the 61st consecutive quarterly cash dividend [12] - The company acquired the remaining shares in Goodwood Ship Management for $6.1 million, fully integrating it into DHT's operations [19] Q&A Session Summary Question: Decision on vessel sales and cash allocation priorities - Management indicated that the decision to sell older ships was based on market conditions and customer preferences. The allocation of cash for corporate purposes, investments, share buybacks, and debt prepayment is not in a specific order but depends on market opportunities [27][29] Question: Appetite for extended contracts and profit-sharing structures - Management expressed excitement about the long-term time charter contract with DHT Appaloosa, indicating a potential shift towards more extended contracts and profit-sharing arrangements [33][35] Question: Impact of OPEC's production increase on the market - Management noted that while it is early to predict the exact impact of OPEC's production increases, they expect to see more cargo in the market, which could positively affect VLCC demand [39][40] Question: Fuel spreads and macroeconomic impacts - Management discussed the current state of fuel spreads and indicated that while the market is dynamic, the relationship between demand for different fuel types could influence spreads [44][46] Question: Future of the VLCC market with potential Iranian oil re-entry - Management outlined two scenarios regarding Iranian oil sanctions, both of which could be positive for the VLCC market, depending on whether sanctions are lifted or maintained [60][61]

需求回暖与全球经济再平衡：欧亚的"需求侧软实力"崛起。欧洲和中国需求复苏，为油价提供基本面支 撑，也映射出全球经济权力重心转移对能源格局的重构。欧洲绿色变革的软约束：欧洲虽推进碳中和目 标，但短期内化石能源需求回升暴露出其能源政策在理想与现实间的矛盾。这种矛盾为传统产油国提供 了战略窗口，可通过灵活供应巩固能源纽带。中国"双循环"战略的能源维度：中国作为最大原油进口 国，需求回暖不仅影响市场情绪，更可通过长期合约、储备调节等工具增强其在全球能源治理中的议价 能力，形成"需求侧软实力"。 价格阈值与产油国的战略韧性：软实力的长期博弈。当前油价水平迫使产油国在短期收益与长期战略间 做出权衡，考验其资源整合与战略忍耐力。沙特的"三重博弈"：需平衡财政收入（需高油价）、市场份 额（需增产压制美国页岩油）、地缘政治影响力（需维系欧佩克联盟凝聚力）。其决策将直接影响全球 石油软实力的分布格局。美国页岩油的适应性挑战：若企业通过技术创新降低盈亏平衡点，可能重获市 场主导权；反之，若资本持续撤离，欧佩克联盟的软实力将进一步强化。 软实力评语：邓正红软实力视角下的综合研判。石油软实力的核心矛盾：从"美国页岩油主导的单极格 局" ...

期货热点追踪 油价持续反弹，美国产量减弱，欧洲和中国需求增加，市场前景如何？ 相关链接 ...

Group 1 - Key Point 1: China's foreign exchange reserves for April are pending release [1] - Key Point 2: A press conference will be held by the State Council Information Office at 09:00 [1] - Key Point 3: France's trade balance for March will be released at 14:45 [1] Group 2 - Key Point 1: Eurozone's retail sales month-on-month for March will be announced at 17:00 [1] - Key Point 2: The EIA crude oil inventory and strategic petroleum reserve data for the week ending May 2 will be released at 22:30 [1] - Key Point 3: The Federal Open Market Committee (FOMC) will announce its interest rate decision at 02:00 the next day [1] - Key Point 4: Federal Reserve Chairman Jerome Powell will hold a press conference at 02:30 the next day [1]