智通财经APP获悉，受油气价格下跌影响，挪威国家石油公司(EQNR.US)四季度利润不及分析师预期， 公司因此也缩减了股票回购计划。 财报显示，该公司Q4经调整后的税后营业利润降至15.5亿美元，低于分析师平均预期的15.9亿美元。净 利润从上年同期的20亿美元下降至13.1亿美元。 这家挪威能源巨头周三同时宣布，今年的股份回购规模将缩减至15亿美元，低于2025年50亿美元的水 平。 自2022年俄乌冲突推高能源价格、为行业带来巨额利润后，挪威国家石油公司曾是众多向股东输送过剩 现金的油气生产商之一。如今，随着市场供应充足、价格走弱，部分企业正开始寻求缩减回报规模。 挪威国家石油公司表示，2025年石油与天然气产量增长3.4%，日均产量达到214万桶油当量，创历史新 高，第四季度产量同比增长6%。其中，旗下新投产的Johan Castberg油田与巴西Bacalhau油气开发项目 均为产量增长贡献显著，公司预计，2026年产量将实现约3%的增幅。 得益于第三方业务量提升，公司营销、中游及加工板块(MMP)经调整后的营业利润达6.78亿美元。值得 一提的是，该公司去年10月曾下调该板块季度业绩指引，称后续目标 ...

记者｜金珊 见习记者林芊蔚 编辑｜江佩霞 2月4日，市场探底回升，沪指重返4100点，深成指翻红，此前一度跌超1%，创业板指午后跌 幅收窄。沪深两市成交额2.50万亿，较上一个交易日缩量624亿。 | 行情 | 资金净流入 | 涨跌分布 | | --- | --- | --- | | 上证指数 | 深证成指 | 科创综指 | | 4102.20 | 14156.27 11 | 1785.43 | | +34.46 +0.85% +29.17 +0.21% -17.72 -0.98% | | | | 万得全A | 创业板指 | 北证50 | | 6770.14 | 3311.51 | 1538.57 | | +30.37 +0.45% -13.38 -0.40% -10.94 -0.71% | | | | 沪深300 | 中证500 | 中证A500 | | 4698.68 | 8299.06 | 5886.58 | | +38.58 +0.83% +12.36 +0.15% +34.43 +0.59% | | | | 中证1000 | 深证100 | 中证红利 | | 8207.12 | 5854.23 | ...

石油ETF（561360）跟踪的是油气产业指数（H30198），该指数涵盖石油、天然气勘探、开采及加工等 相关领域的上市公司证券，主要选取能源行业中涉及上游资源开发与中游炼化业务的企业，以反映油气 产业链相关上市公司证券的整体表现。 （文章来源：每日经济新闻） 光大证券指出，全球战略资源博弈加剧，深海资源战略价值凸显。地缘局势紧张抬升油价，预计2026年 油价或在60-80美元/桶区间宽幅震荡，油价中高位运行为石化板块景气奠定基础。展望2026年，"三桶 油"将继续维持高资本开支，加强天然气市场开拓并加快中下游炼化业务转型。油服企业则受益于国内 高额上游资本开支及海外业务进入业绩释放期，经营质量明显上升。炼化方面，行业扩能接近尾声， 在"减油增化"、"油转特"政策推动下，供需有望改善，行业迈向高质量发展。化纤领域涤纶长丝新增产 能较少，产能结构性优化加速。在"反内卷"政策持续推进背景下，大炼化行业供需有望持续改善，景气 度有望修复。 ...

Group 1 - The core viewpoint of the report indicates that China's refining industry is accelerating its high-end transformation, with the self-sufficiency rate of high-end chemical materials exceeding 80% [2][3] - In 2025, China's crude oil production reached a historical high of 216 million tons, while natural gas production (including coal-to-gas) was 263.8 billion cubic meters, marking a continuous increase of over 10 billion cubic meters for nine consecutive years [3] - China's refining capacity reached 939 million tons per year, and ethylene production capacity reached 62.7 million tons per year, both ranking first globally [3] Group 2 - The report forecasts a slight increase in oil consumption and a rebound in natural gas consumption growth in 2026, with an expected addition of 15 million tons per year in crude oil processing capacity, bringing the total capacity to over 950 million tons per year [5] - The demand for new chemical materials is expected to continue rising, driven by three engines: import substitution, emerging industry support, and green circular development, with demand projected to exceed 65 million tons by 2030, averaging a growth rate of 10% per year [5] Group 3 - The global oil and gas market is expected to experience a loose supply-demand relationship in 2025, with Brent crude oil averaging $68.19 per barrel, a year-on-year decrease of 14.62% [8] - The Asia-Pacific region is projected to contribute nearly 80% of global consumption growth, with energy consumption growth in the region at 2.7%, while Europe and Eurasia are expected to see a decline of 2.0% [8] - The report predicts that the global ethylene production capacity will increase by 9.3 million tons per year, with China accounting for 8.05 million tons, further strengthening its position in the petrochemical industry [12]

Core Insights - The report indicates that by 2025, China's energy self-sufficiency rate will rise to 84.4%, with non-fossil energy consumption accounting for 21.8% of total energy consumption, and this is expected to increase to over 23% by 2026 [1][2] - The "Seven-Year Action Plan" will conclude successfully in 2025, achieving an oil and gas production of 420 million tons of oil equivalent, setting historical records [1][2] - China's overseas equity production is projected to reach 196 million tons by 2025, with expectations to exceed 200 million tons in 2026 through enhanced collaboration across the entire industry chain and integration of renewable energy [1][2] Oil Consumption - In 2025, China's oil consumption is expected to be 76.2 million tons, reflecting a year-on-year growth of 1.1%, with a shift in energy structure characterized by a decrease in gasoline and diesel, an increase in aviation fuel, and a significant rise in chemical light oil [2][3] - By 2026, oil consumption is anticipated to stabilize, with a more pronounced trend of "oil decline and chemical rise," where demand for chemical raw materials becomes a new growth driver [2][3] Natural Gas Consumption - China's natural gas consumption is projected to reach 432 billion cubic meters in 2025, with transportation gas usage growing over 10%, and steady growth in industrial and power generation gas usage [2][3] - For 2026, natural gas consumption is expected to be between 450 billion and 455 billion cubic meters, with a forecast of approximately 550 billion cubic meters by 2030 [2][3] Refining Industry - The refining industry in China is entering a plateau phase in terms of capacity, with a self-sufficiency rate for basic petrochemical products rising to 80% by 2025 [2][3] - The industry is expected to continue optimizing its structure, with an anticipated addition of 15 million tons per year in refining capacity and 19 million tons per year in basic petrochemical capacity by 2026, accelerating the transition towards high-end and refined production [2][3]

2月4日，三大指数早盘集体收跌。截至午间收盘，沪指平盘报收，深证成指跌0.92%，创业板指跌 1.74%。沪深两市半日成交额1.62万亿，较上个交易日放量116亿。 值得注意的是，盘面上AI应用概念全线回调，值得买、开普云等多股跌超10%；游戏、腾讯概念股走 低，利通电子、引力传媒跌停；光模块、PCB、液冷等算力硬件概念全线走低；算力租赁、云服务、云 计算等国产算力概念集体下行，宏景科技等多股跌超10%；半导体、存储芯片、光刻机等国产硬科技概 念集体弱势。消息面上，AI明星公司Anthropic发布的一款AI法律插件，引发隔夜美股软件公司暴跌， 传导至一系列可能被AI取代的软件公司。 涨幅榜方面，太空光伏、钙钛矿电池概念持续走强，双良节能、亚玛顿等多股涨停；机场航运、酒店餐 饮、免税店、乳业等大消费概念拉升，中国东航、友好集团等涨停；煤炭、化工、天然气、电力等顺周 期概念全线走高，陕西黑猫、美锦能源等多股涨停；房地产概念反弹，财信发展、荣安地产等涨停；成 飞概念、大飞机、航空发动机概念走强，博云新材涨停；雄安概念持续强势，韩建河山等涨停；中字 头、银行、央企国资改革等概念集体护盘。 展望后市，华泰证券表示，节 ...

Market Overview - The A-share market experienced a decline with major indices falling, including the Shanghai Composite Index and the ChiNext Index, which dropped over 2% at one point [1] - The trading volume in the Shanghai and Shenzhen markets reached 1.62 trillion yuan, an increase of 11.6 billion yuan compared to the previous trading day [1] - Over 2900 stocks in the market saw declines, indicating a broad-based sell-off [1] Sector Performance - The space photovoltaic sector saw significant gains, with Zhonglai Co. hitting the daily limit up, and Guosheng Technology achieving two consecutive limit-ups [1] - The coal sector rebounded collectively, with Yanzhou Coal Mining, China Coal Energy, and Shaanxi Black Cat all reaching the daily limit up [1] - The airport and shipping sector also performed well, with China Eastern Airlines and Huaxia Airlines hitting the daily limit up [1] - The real estate sector was active, with Rong'an Real Estate and Caixin Development reaching the daily limit up [1] - The hydrogen energy concept surged, with Beijing Capital Co. and Zhiyuan New Energy hitting the daily limit up [1] - Conversely, the precious metals sector saw significant declines, with Zhaojin Mining and Sichuan Gold experiencing sharp drops [1] - The AI application sector faced a collective downturn, with Ingrity Media hitting the daily limit down [1][2] AI Sector Analysis - The AI sector faced a downturn, particularly in semiconductor and AI computing hardware stocks, with companies like Xinyisheng and Zhongji Xuchuang dropping over 5% [2] - The decline was influenced by negative news from AI company Anthropic, which caused panic among software companies potentially at risk of being replaced by AI [2] - The overall sentiment in the tech sector was negative, with major tech stocks in the US, including Nvidia, experiencing declines [2] Other Active Sectors - The oil and gas sector showed strong performance, with Qianeng Hengxin rising over 11% following an increase in international crude oil prices [3] - The liquor sector also saw gains, with Kweichow Moutai rising nearly 2%, marking a return to 1500 yuan per share [3] - The space photovoltaic sector remained active, with Zhonglai Co. and Shichuang Energy both rising over 10% [3] Institutional Perspectives - Analysts from Zheshang Securities emphasized the need for proactive fiscal policy in 2026, suggesting that consumer spending will be a key variable for the stock market [4] - Huatai Securities noted that while trading sentiment has declined, there remains resilience in the funding environment, with a narrowing outflow from ETFs [4] - Ray Dalio, founder of Bridgewater Associates, highlighted the current geopolitical tensions and market volatility, suggesting that gold remains a preferred asset for capital preservation [4] Global Commercial Aerospace Insights - CITIC Securities pointed out that the global commercial aerospace sector is entering a new phase focused on large-scale deployment and ecosystem construction, driven by policy and capital [5] - The competition in this sector is intensifying, with both state-owned and private enterprises racing to secure resources and establish standards [5]

智通财经获悉，由于美国在阿拉伯海击落一架靠近美国航空母舰的伊朗无人机，地缘政治紧张局势再次 抬头，油价连续第二天上涨。周二WTI原油上涨1.7%后，周三进一步逼近每桶64美元，而布伦特原油收 于每桶67美元上方。此次冲突令石油市场感到不安，但美国总统特朗普重申双方仍在进行外交对话，白 宫新闻秘书卡罗琳·莱维特也确认美伊谈判仍定于周五举行。 责任编辑：栎树 与此同时，据美国石油协会的数据，上周美国原油库存减少了1110万桶。如果周三公布的官方数据证实 这一数字，这将是自6月份以来最大的单周降幅。 尽管有迹象表明供应过剩前景仍在，但对中东地区(全球约三分之一原油的产地)任何冲突的担忧，上个 月仍推高了油价。此外，石油也受到了大宗商品市场整体动荡的影响，黄金和白银价格一度暴跌，但在 周二收复了部分失地。 紧张局势升级的另一个迹象是，一艘悬挂美国国旗的油轮在霍尔木兹海峡遭到伊朗船只的骚扰。霍尔木 兹海峡是全球贸易的重要航道。美国中央司令部称，伊朗伊斯兰革命卫队"骚扰"了"史丹纳号"油轮，该 油轮是美国军方燃料采购计划的一部分。 市场担忧主要集中在，美伊或者伊朗-以色列紧张局势升级的任何后果将如何影响通过霍尔木兹海峡的 ...

有券商表示，在地缘政治仍存在不确定性的前提下，中长期原油供需格局仍具备景气基础，在长期主义视角下，持续看 好"三桶油"及油服板块。此外，宏观经济恢复提振化工需求，长期来看化工品产能出清利好龙头企业，我们看好大炼化、 煤化工、乙烯盈利向好。 （文章来源：每日经济新闻） 油气概念股走强，中国石化、招商轮船、广汇能源、洲际油气涨超3%。 受盘面影响，油气相关ETF涨超2%。 | 代码 | 名称 | 现价 | | 涨跌 | | --- | --- | --- | --- | --- | | 159309 | 油气ETF汇添富 | 1.373 | 0.036 | 2.69% | | 563150 | 油气ETF银华 | 1.312 | 0.033 | 2.58% | | 561760 | 油气ETF博时 | 1.324 | 0.031 | 2.40% | ...

责任编辑：宋雅芳 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 2月4日消息，国家高端智库中国石油集团经济技术研究院3日发布《2025年国内外油气行业发展报告》 《全球能源安全报告（2025）》。报告指出，2026年世界经济将保持"低增长、高分化、多动荡"的特 征，全球能源安全与市场稳定面临更严峻的挑战，地缘政治博弈仍是影响油气行业运行的关键变数。中 国经济将保持稳中求进，能源强国建设拉开序幕，能源行业将立足"十五五"开局，加快建设新型能源体 系。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 2月4日消息，国家高端智库中国石油集团经济技术研究院3日发布《2025年国内外油气行业发展报告》 《全球能源安全报告（2025）》。报告指出，2026年世界经济将保持"低增长、高分化、多动荡"的特 征，全球能源安全与市场稳定面临更严峻的挑战，地缘政治博弈仍是影响油气行业运行的关键变数。中 国经济将保持稳中求进，能源强国建设拉开序幕，能源行业将立足"十五五"开局，加快建设新型能源体 系。 《2025年国内外油气行业发展报告》提出，变乱交织中的全球油气行业和稳中求进下 ...