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邓正红能源软实力:供应增加预期扰动平衡表 季节性需求韧性支撑油价震荡运行
Sou Hu Cai Jing· 2025-07-21 03:15
Group 1 - The oil market is facing multiple challenges including structural competition and institutional rivalry, driven by the U.S. "Big and Beautiful" Act reversing clean energy policies and the EU's sanctions against Russia, which are reshaping supply chains [1][2] - Current oil soft power is influenced by various factors such as seasonal demand resilience, supply disruptions, and macroeconomic policy changes, leading to a lack of significant unilateral drivers for oil prices [3][4] - The "Big and Beautiful" Act promotes fossil fuel development, which may lead to deep disruptions in the energy sector and a reconfiguration of international energy dynamics [1][3] Group 2 - The EU's sanctions against Russia, including a ban on importing Russian oil products, aim to weaken Russia's energy supply power, although exceptions for certain countries highlight strategic compromises [3][4] - Seasonal demand remains resilient, supported by low inventory levels and strong consumption data, which helps stabilize oil prices in the medium term [3][4] - The interplay of geopolitical risk premiums, supply-demand rebalancing, and institutional innovation is driving the current volatility in oil prices, with future upward potential depending on the precision of structural adjustments and behavioral strategies [2][4]