张尧浠：金价如期受阻趋势线压力、关注再度调整和入场机会 黄金市场上周：国际黄金继续强势反弹收阳，如期触及上升趋势线压力位置，并刷新历史高点，连续第9周收阳，后市则重点关注趋势线压力位置，突破 持稳此上方运行，则顺势跟进看涨5000美元，反之遇阻持续运行在此之下，则需留意调整至4000美元或3800美元附近的风险。 具体走势上，金价自周初低开于4004.70美元，迅速录得当周低点4003.62美元，之后则反弹连续走强收阳，于周五触及4378.91美元历史高点后，遇阻回落 跳水超192美金，最终有所止跌回升，收于4246.89美元，周振幅375.29美元，相对于前周收盘价4012.63美元，收涨234.26美元，涨幅5.83%。 影响上，受到美国政府的持续停摆担忧，以及美联储众多官员表达支撑降息的言论，加上地缘局势的紧张情绪推动，还有美国信贷市场爆雷推动避险情绪 升温等等，共同助力金价强势拉升反弹到周五录得历史高点； 不过，由于触及上升趋势线压力位置，上海金金价也触及1000元/克关口，而产生了较大的获利了结卖盘，同时，美元指数和美债收益率周五触底回升收 阳，也对其产生一定压力。 展望本周周一(10月20日)：国 ...

Group 1: Global Oil Production Trends - The U.S. daily oil production reached a historic high of 13.58 million barrels, with Texas contributing 5.72 million barrels, accounting for nearly 40% of total U.S. production [2] - Russia maintained an oil production level of 250 million tons in the first half of 2025, with a daily output of 9.5 million barrels, despite a 3.5% decline compared to the previous year [3] - China's domestic crude oil production was approximately 10.847 million tons in the first half of 2025, showing a year-on-year growth of 1.3% [4] Group 2: Key Players in the Oil Industry - The three major Chinese state-owned enterprises—PetroChina, Sinopec, and CNOOC—dominate domestic oil extraction, with PetroChina producing 395.2 million barrels and Sinopec achieving a total oil and gas output of 126 million barrels in the first half of 2025 [8] - Rosneft, the largest oil company in Russia, reported a liquid hydrocarbon production of 89.3 million tons in the first half of 2025 [3] Group 3: Geopolitical Dynamics and Market Implications - The global oil market is characterized by "supply looseness and weak demand," with predictions of an average daily change in global crude oil inventory of 301,600 barrels in 2025 [6] - China’s oil imports reached 280 million tons in the first half of 2025, with a high dependency rate of 72.1% on foreign oil [6] - The geopolitical landscape is shifting, with 47% of Russia's crude oil exports directed to China, and energy trade between China and Russia expected to exceed $300 billion by 2025 [9]