Report Summary 1) Report Industry Investment Rating - Not provided in the given content 2) Core View of the Report - The EIA's January 2026 oil supply report confirms the production and demand situation of the US in November 2025. In November 2025, the US crude oil production was 13.782 million barrels per day, a decrease of 82,000 barrels per day from the previous month. Both the production forecast and the month - on - month trend were downwardly adjusted compared with the previous EIA weekly data's continuous production increase forecast. In terms of demand, although the refinery's net intake was seasonally high in November, the apparent demand for gasoline, diesel, and aviation kerosene in the US all declined, and the total demand for petroleum products fell to a low level in the same period [2] 3) Summary by Related Catalogs Production - In November 2025, the US crude oil production was 13.782 million barrels per day, a month - on - month decrease of 82,000 barrels per day. The production forecast and the month - on - month trend were downwardly adjusted compared with the previous EIA weekly data's continuous production increase forecast [2] Demand - In November 2025, although the refinery's net intake was seasonally high, the apparent demand for gasoline, diesel, and aviation kerosene in the US all declined, and the total demand for petroleum products fell to a low level in the same period [2]

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core View of the Report The EIA's October oil supply report confirmed the production and demand situation in the US in August. US crude oil production reached 1,379,400 barrels per day in August, a month - on - month increase of 86,000 barrels per day, showing continuous production resilience and higher than the EIA's previous weekly estimates. The total demand for US petroleum products decreased against the seasonal trend in August, mainly due to a significant weakening of diesel demand, while gasoline and jet fuel demand continued their seasonal strength [1]. 3) Summary by Relevant Content - **Crude Oil Production**: In August, US crude oil production was 1,379,400 barrels per day, with a month - on - month increase of 86,000 barrels per day, and the production was higher than the EIA's previous weekly estimates [1]. - **Petroleum Product Demand**: The total demand for US petroleum products decreased against the seasonal trend in August. Diesel demand weakened significantly, while gasoline and jet fuel demand maintained seasonal strength [1].

Report Summary Core View - The EIA's July oil supply report confirmed the production and demand situation in the US in June. After the decline in the oil price center, the resilience of US crude oil production was still evident, while the growth of demand was weaker than the seasonal level, and the demand for gasoline and diesel was at a five - year low for the same period. Due to the improvement of refining profits, the net input of refinery feedstock rebounded [3]. Specific Data - **Production**: In May, US crude oil production was 13.488 million barrels per day, a month - on - month increase of 24,000 barrels per day [3]. - **Demand**: In May, US petroleum product demand was 20.023 million barrels per day, a month - on - month increase of 110,000 barrels per day. Gasoline demand showed seasonal growth, with a month - on - month increase of 174,000 barrels per day, while diesel demand decreased by 94,000 barrels per day month - on - month [3]. - **Refinery Feedstock**: In May, the net input of refinery feedstock increased by 724,000 barrels per day month - on - month, getting out of the year - on - year slump from March to April [3].