Group 1: Report Industry Investment Rating - Not provided Group 2: Report's Core View - For the crude oil 2509 contract, the short - term view is "oscillation", the medium - term view is "oscillation", the intraday view is "oscillation and weakening", and the overall reference view is "weak operation". Due to the existence of geopolitical risks in the Middle East, the premium of crude oil has increased. After the previous sharp decline, the confidence of long - positions in the oil market has increased again, and the geopolitical premium has rebounded. With the arrival of the peak oil - using season in the Northern Hemisphere, the demand factor for crude oil has come into play. However, 8 major oil - producing countries among OPEC and non - OPEC oil - producing countries decided to increase production by 548,000 barrels per day in August, exceeding market expectations. After the bearish impact of the production increase is gradually digested and the original production increase plan of the oil - producing country organization is gradually realized, the room for further expansion of production in the future is limited. Against the background of differences between long and short positions in the oil market, on Wednesday night, domestic and international crude oil futures prices maintained an oscillating and weakening trend. The domestic crude oil futures 2509 contract slightly closed down 0.45% to 504.7 yuan per barrel, and it is expected that on Thursday, the domestic crude oil futures 2509 contract may maintain an oscillating and weakening trend. [1][5] Group 3: Summary According to Related Catalogs Crude Oil 2509 Contract Views - Short - term: Oscillation [1] - Medium - term: Oscillation [1] - Intraday: Oscillation and weakening [1] - Reference view: Weak operation [1] Price and Trend - On Wednesday night, domestic and international crude oil futures prices maintained an oscillating and weakening trend. The domestic crude oil futures 2509 contract slightly closed down 0.45% to 504.7 yuan per barrel, and it is expected to maintain an oscillating and weakening trend on Thursday. [5] Core Logic - Geopolitical risks in the Middle East have increased the premium of crude oil. After the previous sharp decline, the confidence of long - positions in the oil market has increased, and the geopolitical premium has rebounded. The arrival of the peak oil - using season in the Northern Hemisphere has boosted demand. 8 major oil - producing countries decided to increase production by 548,000 barrels per day in August, exceeding market expectations. After the bearish impact of the production increase is digested and the original production increase plan is realized, the room for further production expansion is limited. [5]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints - The oil market shows a divergence between bulls and bears, and crude oil is expected to operate in a relatively strong manner. The domestic crude oil futures contract 2509 is predicted to maintain a relatively strong and volatile trend on Tuesday [1][5]. 3. Summary by Related Catalogs 3.1 Time - based Viewpoints - **Short - term**: The short - term view of crude oil 2509 is volatile [1]. - **Medium - term**: The medium - term view of crude oil 2509 is volatile, and the medium - term view of crude oil (SC) is also volatile [1][5]. - **Intraday**: The intraday view of crude oil 2509 is volatile and relatively strong, and the intraday view of crude oil (SC) is also volatile and relatively strong [1][5]. 3.2 Driving Logic - **Positive Factors**: Geopolitical risks in the Middle East still exist, increasing the premium of crude oil. After a significant decline in the early stage, the confidence of oil market bulls has increased again, and the geopolitical premium has rebounded. The arrival of the peak oil - using season in the Northern Hemisphere has boosted crude oil demand [5]. - **Negative Factors**: Eight major oil - producing countries among OPEC and non - OPEC oil - producing countries decided to increase production by 548,000 barrels per day in August, exceeding market expectations. However, as the negative impact of the production increase is gradually digested and the original production increase plan of the oil - producing countries is gradually realized, the space for further production expansion in the future is limited [5]. 3.3 Price Performance - On Monday night, domestic and foreign crude oil futures prices maintained a volatile and slightly weak trend. The domestic crude oil futures contract 2509 slightly closed down 0.86% to 507.5 yuan per barrel [5].

Group 1 - The policy measures to promote the high-quality development of the private economy are showing effective results, indicating strong momentum in the development of the private sector [2][3] - The number of people flowing across regions during the "May Day" holiday is expected to reach a cumulative total of 1.467 billion [5] - The charging volume for new energy vehicles at highway service areas during the "May Day" holiday reached a record high for the same period [6] Group 2 - The 137th Canton Fair has concluded today, reflecting ongoing trade activities [8] - The country is increasing investment to support long-term data infrastructure construction, which may benefit various industries [9] - The area of irrigated farmland in the country has exceeded 108 million acres, indicating a focus on agricultural productivity [10]