新华财经北京1月6日电据国家发展改革委6日发布，自2025年12月22日国内成品油价格调整以来，国际市场油价小幅波动，按现行国内 成品油价格机制测算，2026年1月6日的前10个工作日平均价格与2025年12月22日前10个工作日平均价格相比，调价金额每吨不足50 元。根据《石油价格管理办法》第七条规定，本次汽、柴油价格不作调整，未调金额纳入下次调价时累加或冲抵。 国家发展改革委指出，中石油、中石化、中海油三大公司及其他原油加工企业要组织好成品油生产和调运，确保市场稳定供应，严格 执行国家价格政策。各地相关部门要加大市场监督检查力度，严厉查处不执行国家价格政策的行为，维护正常市场秩序。 （文章来源：新华财经） ...

Group 1: Chemical Sector Performance - The chemical sector indices experienced declines, with the chemical raw materials index down by 0.65%, chemical machinery index down by 2.97%, pharmaceutical index down by 2.19%, and pesticide and fertilizer index down by 0.73% [1] - In contrast, the oil sector indices showed positive performance, with the oil processing index up by 6.19%, oil extraction index up by 4.93%, and oil trading index up by 2.66% [1] Group 2: Oil Price Movements - International crude oil prices showed a strong fluctuation, with WTI settling at $57.32 per barrel, an increase of 1.02% from December 26, 2025, and Brent settling at $60.75 per barrel, an increase of 0.18% [1] Group 3: Petrochemical Product Price Changes - The top five petrochemical products with price increases included industrial-grade lithium carbonate up by 22.37%, purified terephthalic acid up by 8.32%, paraxylene (CFR China) up by 6.97%, polyester FDY up by 5.04%, and shale oil up by 4.98% [1] - The top five petrochemical products with price declines included liquid chlorine down by 37.72%, liquefied natural gas down by 6.69%, pure MDI down by 4.23%, sulfur down by 3.96%, and vitamin D3 down by 3.85% [1] Group 4: Capital Market Performance of Chemical Companies - The top five performing listed chemical companies included Guoli Technology up by 20.18%, Heshun Technology up by 19.11%, Longgao Co. up by 18.91%, Shuangwei New Materials up by 15.68%, and Cangzhou Dahua up by 14.56% [2] - The bottom five performing listed chemical companies included Qingshuiyuan down by 12.54%, Shilong Industrial down by 11.51%, Ruihua Tai down by 10.92%, Monte High-tech down by 10.21%, and Kaisheng New Materials down by 9.80% [2]

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - The asphalt market is expected to have significant price fluctuations in the near term, and it is recommended to take a wait - and - see approach while keeping an eye on the situation in Venezuela [3] 3. Summary by Relevant Catalogs 3.1 Market Analysis - Last week, the asphalt开工率 decreased by 3.9 percentage points to 27.4% week - on - week, 2.0 percentage points lower than the same period last year, at a relatively low level in recent years [3][21] - In January 2026, the domestic asphalt production is expected to be 2 million tons, a decrease of 15.8 tons month - on - month (7.3%) and 27.6 tons year - on - year (12.1%) [3] - As of the week ending January 2nd, most of the downstream industries'开工率 of asphalt remained stable, with the road asphalt开工率 unchanged at 20% week - on - week, restricted by funds and weather [3][30] - As of the week ending January 2nd, the high - price transactions of low - sulfur asphalt in Northeast China were sluggish, and the refinery shipments were blocked. The national shipment volume decreased by 3.22% week - on - week to 263,100 tons, at a neutral level [3][26] - As of the week ending January 2nd, the inventory - to - sales ratio of asphalt refineries decreased by 0.7 percentage points to 12.9% week - on - week, near the lowest level in the same period in recent years [35] - The U.S. military attack on Venezuela is expected to reduce the discount of diluted asphalt, severely restricting the flow of Venezuelan heavy crude oil to domestic refineries, affecting domestic asphalt production and costs [3] - This week, the main refineries in East China will have intermittent shutdowns, and the asphalt开工率 will remain low. The road construction in the north is gradually ending, and the subsequent rigid demand will further slow down, but the winter storage demand in the north is continuously being released. The overall demand in the south is average, and the low - price supply from southern refineries has decreased [3] - The asphalt price in Shandong has increased, and the basis is at a relatively low - neutral level [3][16] 3.2 Ratio and Basis - The asphalt - to - crude oil ratio has risen to 6.99 [13] - The mainstream market price in Shandong has risen to 2,950 yuan/ton, and the basis of the asphalt 02 contract has risen to - 72 yuan/ton, at a relatively low - neutral level [16] 3.3 Demand - From January to November, the national highway construction investment decreased by 5.9% year - on - year. The cumulative year - on - year growth rate increased by 0.1 percentage points compared with that from January to October 2025 but remained negative. From January to November 2025, the cumulative year - on - year growth rate of the actual completed fixed - asset investment in the road transportation industry decreased by 4.7%, slightly lower than the - 4.3% from January to October 2025. From January to November 2025, the cumulative year - on - year growth rate of the completed fixed - asset investment in infrastructure construction (excluding electricity) decreased to - 1.1%, lower than the - 0.1% from January to October 2025 [30]

Core Viewpoint - From January 1, 2026, a consumption tax will be fully levied on naphtha in the circulation link, significantly increasing production costs for enterprises [1] Group 1: Tax Policy Impact - The consumption tax will be applied to naphtha supplied internally, mutually supplied, and directly supplied for the production of ethylene and aromatic products, leading to increased transaction costs for chemical raw materials [1] - The tax policy will not apply to naphtha that is self-produced and used by enterprises, nor to mutual supply and direct supply for ethylene and aromatic production [1] Group 2: Price Changes - Following the policy adjustment, the price of naphtha for internal supply, mutual supply, and direct supply is expected to rise to approximately 7,000 yuan per ton from the previous price of 4,230 yuan per ton [2] - The consumption tax paid can be refunded, but the increased financial pressure and operational costs will still be significant for enterprises [2] Group 3: Production and Supply Dynamics - In 2025, China's naphtha production is projected to exceed 190 million tons, with market circulation estimated at only 4.5 to 5 million tons, indicating that most naphtha produced will be for self-use or internal supply [2] - The internal supply, mutual supply, and direct supply of naphtha are expected to be around 35 million tons in 2025, all of which will be subject to the new consumption tax [2] Group 4: Strategic Responses - To mitigate increased operational costs, companies are likely to enhance their naphtha yield and invest in hydrogen cracking and other facilities to optimize production parameters [3] - Companies may also increase external procurement or imports of naphtha, although imports are limited by quotas and geopolitical uncertainties [3][4] - The diversification of raw material sources for steam cracking facilities may lead to an increase in the proportion of other raw materials used due to rising processing costs for naphtha [4]

Core Viewpoint - Shandong Molong (002490) experienced a significant stock price increase of over 13%, attributed to recent government subsidies and debt restructuring efforts [1] Financial Performance - Shandong Molong received a cash subsidy of 20 million yuan, which accounts for 45.77% of the company's audited net profit attributable to shareholders for the most recent fiscal year [1] Debt Restructuring - The company is alleviating financial pressure through a debt restructuring plan, where Shouguang State-owned Assets will use assets valued at 362 million yuan to repay 361 million yuan owed to Shandong Molong [1]

Core Viewpoint - Rongsheng Petrochemical (002493) announced the approval of the proposal regarding the mutual guarantee limit for the year 2026 at its fourth extraordinary general meeting of shareholders in 2025 [1] Group 1 - The company held its fourth extraordinary general meeting of shareholders on January 4 [1] - The proposal concerning the mutual guarantee limit for 2026 was reviewed and approved [1]

Investment Rating - The industry investment rating is "Positive" [1] Core Views - International oil prices experienced slight increases due to geopolitical tensions in Venezuela and Ukraine, with Brent and WTI prices at $60.75 and $57.32 per barrel respectively as of January 2, 2026 [2][9] - The oil and petrochemical sector showed a strong performance, with a 3.92% increase in the sector index compared to a slight decline in the broader market [10] - The report highlights the increase in U.S. crude oil production and refinery processing rates, indicating a robust demand environment [57][62] Summary by Sections Oil Price Review - As of January 2, 2026, Brent crude futures settled at $60.75 per barrel, up $0.51 (+0.85%) from the previous week, while WTI crude futures rose to $57.32 per barrel, an increase of $0.58 (+1.02%) [31] - The geopolitical situation, particularly in Venezuela and Ukraine, is influencing market dynamics, balancing risks of supply surplus against geopolitical tensions [2][9] Offshore Drilling Services - The number of global offshore self-elevating drilling rigs increased to 375, with notable additions in Africa, Europe, and North America [40] - Floating drilling platforms also saw a rise, totaling 131, with increases in Africa and South America [40] Crude Oil Supply - U.S. crude oil production reached 13.827 million barrels per day, reflecting a slight increase of 0.2 million barrels from the previous week [57] - The active rig count in the U.S. rose to 412, indicating ongoing exploration and production activities [57] Crude Oil Demand - U.S. refinery crude processing averaged 16.847 million barrels per day, with a utilization rate of 94.70%, showing a slight increase in operational efficiency [62] - The report notes stable refinery operation rates in China, with major refineries operating at 75.11% capacity [62] Crude Oil Inventory - As of December 26, 2025, total U.S. crude oil inventories stood at 836 million barrels, a decrease of 1.686 million barrels (-0.20%) from the previous week [75] - Strategic reserves increased slightly, while commercial inventories saw a notable decline [75] Finished Oil Products - In North America, average prices for diesel, gasoline, and jet fuel were reported at $89.37, $71.66, and $80.18 per barrel respectively, with corresponding price differentials to crude oil [99]

上市企业：宝利国际（300135）,恒基达鑫（002492），中国石化（600028） 相关报告：智研咨询发布的《2026-2032年中国乙醇汽油行业发展现状调查及市场分析预测报告》 2020-2025年1-11月中国汽油产量统计图 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据国家统计局数据显示：2025年11月中国汽油产量为1247万吨，同比增长3.1%；2025年1-11月中国汽 油累计产量为14201.6万吨，累计下降3.9%。 ...

Group 1 - The core viewpoint of the article highlights the growth in China's kerosene production, with a reported output of 4.67 million tons in November 2025, representing a year-on-year increase of 7.7% [1] - Cumulatively, from January to November 2025, China's kerosene production reached 54.45 million tons, showing a growth of 5.2% compared to the previous year [1] Group 2 - The data is sourced from the National Bureau of Statistics and compiled by Zhiyan Consulting, a leading industry consulting firm in China [2] - Zhiyan Consulting specializes in providing in-depth industry research reports, business plans, feasibility studies, and customized services, focusing on delivering comprehensive industry solutions to empower investment decisions [2]

Group 1 - The core viewpoint of the article highlights the production statistics of petroleum asphalt in Fujian Province for the year 2025, indicating a decline in September but an overall increase from January to September [1][4]. Group 2 - In September 2025, the petroleum asphalt production in Fujian Province was 87,000 tons, representing a year-on-year decrease of 8.3% [1]. - The production growth rate in September 2025 was 14.7 percentage points higher than the same month in the previous year, but it was 34.4 percentage points lower than the national average [1]. - The total production for January to September 2025 reached 805,000 tons, showing an 18.2% increase compared to the same period last year [4]. - The growth rate for the first nine months of 2025 was 18.7 percentage points higher than the previous year, and it exceeded the national growth rate by 6.8 percentage points [4]. - Fujian's production accounted for 2.9% of the national total petroleum asphalt production of 2,787,600 tons during the same period [4].