Macroeconomics

1. [Industrial Value Added] National Bureau of Statistics: In August, the value added of industrial enterprises above designated size grew by 5.2% year-on-year in real terms, an acceleration of 0.7 percentage points from the previous month; it rose by 0.54% month-on-month. From January to August, the value added of industrial enterprises above designated size increased by 5.3% year-on-year.

2. [Power Generation] National Bureau of Statistics: In August, power generation by industrial enterprises above designated size totaled 943.8 billion kWh, down 0.8% year-on-year; average daily power generation was 30.44 billion kWh. From January to August, power generation by industrial enterprises above designated size totaled 6,647.6 billion kWh, up 2.4% year-on-year.

Energy

1. [Crude Oil] On September 15, international crude oil futures rose sharply. The settlement price for the US WTI crude oil futures contract for October delivery was $105.83 per barrel, up $4.44 or 4.4%. The settlement price for the Brent crude oil futures contract for November delivery was $108.75 per barrel, up $3.07 or 2.9%.

2. [Crude Oil] On September 15, a report released by the American Petroleum Institute (API) showed that for the week ending September 11, US crude oil inventories increased by 7.1 million barrels from the previous week, gasoline inventories rose by 1.5 million barrels, and distillate inventories increased by 1.6 million barrels.

3. [Crude Oil] It is reported that Saudi Arabia has notified some European oil refineries that crude oil shipments scheduled for loading in September have been cancelled due to the closure of the East-West Pipeline. Additionally, shipping industry sources stated that oil loading operations at the Red Sea port of Yanbu have been suspended.

4. [Crude Oil] Libya's National Oil Corporation (NOC) stated that operations at three oil fields have been suspended after protesting members of the Petroleum Facilities Guard (PFG) closed a valve on the Hamada-Zawiya crude oil export pipeline.

5. [Crude Oil] Kuwait has raised the official selling price (OSP) for its crude oil sold to Asia for October delivery to a discount of $2.75 per barrel against the average of Oman/Dubai quotes. The producer set the official selling price for Kuwaiti Super Light crude for October at a discount of $2.75 per barrel relative to the Oman/Dubai benchmark.

6. [Crude Oil] According to the Iraqi News Agency, Iraq's Ministry of Oil stated that daily crude oil production has currently exceeded 3 million barrels. August oil exports reached a new high since the US-led invasion of Iraq, nearing 70 million barrels; the daily average export volume exceeded 2.2 million barrels, generating approximately $4.5 billion in revenue. The Ministry noted plans to increase export capacity to 5 million barrels per day following the completion of strategic oil export pipelines extending to Fishkhabur and Baniyas.

7. [Crude Oil] National Bureau of Statistics: In August, crude oil production by industrial enterprises above designated size totaled 18.43 million tonnes, up 0.8% year-on-year (matching the growth rate seen in July), with an average daily output of 595,000 tonnes. From January to August, total production reached 146.39 million tonnes, a year-on-year increase of 0.9%.

8. [Crude Oil] National Bureau of Statistics: In August, the volume of crude oil processed by industrial enterprises above designated size was 59.07 million tonnes, down 6.9% year-on-year (a decline that narrowed by 8.9 percentage points compared to July), with an average daily processing volume of 1.906 million tonnes. From January to August, the total volume processed was 456.12 million tonnes, a year-on-year decrease of 6.6%.

9. [Raw Coal] National Bureau of Statistics: In August, raw coal production by industrial enterprises above designated size was 360 million tonnes, down 7.7% year-on-year (a decline that narrowed by 2.4 percentage points compared to July), with an average daily output of 11.67 million tonnes. From January to August, total production was 3.06 billion tonnes, a year-on-year decrease of 3.3%.

10. [Coke] National Bureau of Statistics: In August, coke production totaled 39.92 million tonnes, down 6.2% year-on-year. From January to August, coke production totaled 334 million tonnes, up 0.3% year-on-year.

11. [LNG] National Bureau of Statistics: In August, natural gas production by industrial enterprises above designated size reached 21.4 billion cubic meters, a year-on-year increase of 0.8% (compared to a 0.9% decline in July); average daily production was 690 million cubic meters. From January to August, production totaled 175.7 billion cubic meters, up 1.1% year-on-year.

12. [LNG] Nigeria LNG (NLNG): Production Train 3 will be shut down for maintenance until the end of 2026.

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