党的二十届四中全会会议精神对重点商品的影响分析(黑色金属&原油篇)

五矿期货微服务
Oct 31

原油原油方面,《建议》定调能源安全与绿色转型并重。对原油而言,主线维持“稳产保供、优化结构、完善储备、提升效率”。当前国内原油产量总体稳定在2亿吨左右,老油田稳产与非常规增量并行,进口受炼厂检修与配额节奏影响阶段性回落。炼厂加工维持中高负荷,轻重油配比与“减油增化”趋势继续强化。成品油需求增速放缓,化工原料占比抬升。在此背景下,十五五期间国内可能在原油价格回落窗口适度补库,同时将压减低效产能、在...

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