Report Summary Investment Rating - Hold long positions in crude oil, and prices may challenge $80 per barrel again [1] Core View - The report provides information on international crude oil futures prices, API inventory data, and various industry news, suggesting a potential upward trend in crude oil prices [1][4] Detailed Summary International Crude Oil - WTI September crude oil futures rose $2.50 per barrel, or 3.75%, to $69.21 per barrel; Brent September crude oil futures rose $2.47 per barrel, or 3.52%, to $72.51 per barrel; SC2509 crude oil futures rose 12.80 yuan per barrel, or 2.49%, to 527.50 yuan per barrel [1] Industry News - The OPEC+ Joint Ministerial Monitoring Committee urged member countries to fully comply with quotas [2] - The IMF raised its global economic growth forecast for this year to 3%, the US growth forecast to 1.9%, and the China growth forecast to 4.8% [3] - Trump suggested the EU buy $1 trillion of US energy during his term, and the EU agreed to buy $750 billion [4] - US API crude inventories for the week ending July 25 were 153.9 million barrels (previous -57.7 million barrels, expected -250 million barrels); API Cushing crude inventories were 46.5 million barrels (previous 31.4 million barrels); API gasoline inventories were -173.9 million barrels (previous -122.8 million barrels, expected -114.7 million barrels); API refined oil inventories were 418.9 million barrels (previous 348 million barrels, expected -90.6 million barrels) [4] - Trump said he was not worried about oil if sanctions were imposed on Russia [4] - US Commerce Secretary Lutnick said Trump accepted that natural resources would not face tariffs [4] - Kuwait's oil minister was optimistic about the fundamentals of the oil market [4] - Traders expected OPEC+ to significantly increase production again to complete the current production recovery [4] - The EU's sanctions on India's Nayara Energy led to a reduction in its crude oil production [4] - On July 29, China's new round of refined oil price adjustment window opened, and due to the small price adjustment amount, gasoline and diesel prices remained unchanged [4] - China and the US will continue to promote the extension of the 24% reciprocal tariffs and China's countermeasures, and the two sides' economic and trade teams will maintain close communication [4] Trend Intensity - The trend intensity of crude oil is 1, indicating a moderately bullish outlook [5]

Core Viewpoint - The Kuwaiti Oil Minister expresses an optimistic outlook on the fundamentals of the oil market, emphasizing OPEC+'s efforts to ensure energy security and market balance [1] Group 1 - The Kuwaiti Oil Minister's statement reflects confidence in the oil market's fundamentals [1] - OPEC+ is actively working to maintain energy security [1] - The focus is on achieving market balance through collaborative efforts [1]

Group 1 - The oil minister of Kuwait expresses an optimistic view on the fundamentals of the oil market [1] - OPEC+ efforts are aimed at ensuring energy security and market balance [1]