Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View - In the week of January 11, the global on - land crude oil inventory stopped falling and rebounded, the floating storage inventory continued to rise, and the full - caliber (including in - transit) inventory declined, meaning the number of in - transit shipments decreased. Regionally, the inventories in China, India, Russia, Europe, and the Middle East all increased [1] 3. Summary by Related Content - **Global Crude Oil Inventory Situation** - Global on - land crude oil inventory stopped falling and rebounded, floating storage inventory continued to climb, and full - caliber (including in - transit) inventory decreased with a reduction in in - transit shipments [1] - **Regional Inventory Changes** - In China, India, Russia, Europe, and the Middle East, the on - land crude oil inventories all increased [1]

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoint of the Report In the week of November 9, both global on - land and floating storage crude oil inventories jumped, and the full - scope (including in - transit) inventory continued to rise to a new high for the year. Year - on - year, the inventory pressure remains high. Regionally, China's inventory decreased slightly, while inventories in India, Europe, Russia, and the Middle East all increased [1]. 3) Summary by Relevant Content - **Global Crude Oil Inventory Situation**: In the week of November 9, global on - land and floating storage crude oil inventories increased, and the full - scope (including in - transit) inventory reached a new high for the year, with high year - on - year inventory pressure [1]. - **Regional Inventory Changes**: China's inventory decreased slightly, while inventories in India, Europe, Russia, and the Middle East increased [1].