Group 1 - Indian Oil Corporation (IOC) is seeking to purchase non-sanctioned Russian crude oil for delivery in early 2026, along with crude from the U.S. and West Africa, ensuring compliance with international sanctions [1] - Last month, IOC acquired five cargoes of Russian crude from non-sanctioned entities, totaling approximately 3.5 million barrels of ESPO crude, at prices comparable to Dubai quotes for delivery in December [2] - Following U.S. sanctions on major Russian oil producers, Indian refiners are shifting away from Russian crude, with IOC planning to buy 24 million barrels from the Americas in Q1 of next year to compensate for lost Russian supply [3] Group 2 - Most Indian refiners have refrained from ordering Russian crude for December due to U.S. sanctions on Rosneft and Lukoil, leading to increased purchases from the Middle East and Americas to mitigate expected declines in Russian loadings [4]

Shares of Hungarian refiner Mol rose after Prime Minister Viktor Orban secured an exemption from US sanctions on Russian oil — which is key to the company’s operations https://t.co/y8Zquf14TA ...

Group 1 - Eli Lilly (LLY) is highlighted as a key player in the weight-loss drug market, alongside AI stocks CrowdStrike Holdings (CRWD) and Semtech (SMTC) which are also on the watchlist for potential buy points [2] - CrowdStrike is recognized as a leader in AI-driven security, while Semtech specializes in data-center chips that offer high performance with low power consumption [2] - The stock market experienced a significant decline, with the Dow Jones dropping nearly 400 points, but bulls attempted to stabilize at critical levels [5] Group 2 - The weight-loss drug craze continues to gain momentum, with Eli Lilly's stock showing renewed technical strength amid global events [5] - A recent deal involving Trump has led to a reduction in weight-loss drug prices by up to 74%, impacting the market dynamics for companies like Lilly and Novo [5] - Eli Lilly and AMD are among 17 new entrants added to IBD's top stock screens, indicating strong market interest [5]

Group 1 - Valero Energy (VLO) is targeting a 52-week high and is currently the IBD Stock of the Day, indicating strong market interest [2] - The stock experienced a significant surge of 7% on October 23, marking its best performance since April, following the company's third-quarter earnings that exceeded profit and sales expectations [2] - Company executives provided positive commentary to analysts, suggesting confidence in future performance [2] Group 2 - The overall market has shown volatility, but certain stocks, including Valero Energy, have demonstrated renewed technical strength [5] - Valero Energy has achieved a relative strength rating of over 80, indicating strong price performance compared to its peers [5] - The stock's recent breakout is attributed to favorable market conditions, including rising oil prices and strategic movements in the energy sector [5]

Company Operations - Hungary's sole oil refiner can procure most of its crude from non-Russian sources [1]

Core Viewpoint - Iraq has directed a halt on imports of middle distillates, claiming self-sufficiency due to increased oil production and refining capacity [1][2] Group 1: Oil Production and Exports - Iraq's oil production has increased, particularly from the Nasiriyah field, which now produces 80,000 barrels per day [1] - Total oil exports from Iraq averaged between 3.4 and 3.45 million barrels per day in September [1] Group 2: Refining Infrastructure - Iraq's refining capacity is currently around 1.3 million barrels per day, with plans to increase it to over 1.5 million barrels per day [2] - The refining sector has been significantly upgraded since late-2022, following the formation of a new government [2] - Previous terrorist attacks had severely degraded the refining infrastructure, notably the destruction of the Shamal refinery in 2014 [2] Group 3: Import Dynamics - Iraq primarily imports gasoline and gasoil diesel, but has made significant upgrades to its refineries in Karbala, Basra, and Kirkuk [3] - Despite claims of self-sufficiency, Iraq still imports high-octane gasoline and certain low-sulfur diesel grades that do not meet Euro-spec quality [3] - Customs data indicates that Iraq imported 50,000 barrels per day of gasoline in the first half of the current year, down from 120,000 barrels per day last year [4]

Reliance is seeking to sell some cargoes of Middle Eastern oil to domestic and international buyers, in an unusual move for the Indian refiner https://t.co/HhtJsljqJC ...

Market Trends - The era of Indian oil refiners profiting from inexpensive Russian crude and exporting fuels to Europe is nearing its end [1]

Core Insights - Sinopec has established a joint venture with LG Chem to develop sodium-ion batteries, marking its entry into the battery industry [1][2] - The collaboration aims to enhance technology and market competitiveness, aligning with Sinopec's vision of becoming a leading clean energy and premium chemical company [2] - The demand for sodium-ion batteries is projected to increase significantly, from 10 GWh in 2023 to 292 GWh by 2034, with China expected to dominate global production [5] Company Overview - Sinopec is the largest oil refiner globally, with a refining capacity of approximately 6 million barrels per day [3] - The company is also a major crude oil and gas producer in China, anticipating that peak oil demand in the country will occur soon, at around 16 million barrels daily [3] Financial Performance - Sinopec reported a 32% decline in net profits for Q3, attributed to lower oil prices and sluggish demand growth [4]

Market Dynamics - Turkey's oil refiners are reducing Russian crude oil purchases following US sanctions on Russia's top two oil producers [1] - Refiners are seeking alternative crude oil supplies from Iraq, Libya, Saudi Arabia, and Kazakhstan [1]