SunSirs: Energy Industries Bulk Commodity Intelligence (October 14, 2025)

Macroeconomics

1. [Ship] China's Ministry of Transport issued implementation measures for collecting special port fees from US ships. The measures will take effect on October 14, 2025. Starting on that date, eligible US ships berthing at Chinese ports will be charged RMB 400 per net ton. The fee will increase annually over the next three years, reaching RMB 1,120 per net ton in 2028.

2. [Import and Export] According to customs statistics, my country's import and export of goods reached 33.61 trillion yuan in the first three quarters of 2025, a year-on-year increase of 4%. Of this total, exports reached 19.95 trillion yuan, a year-on-year increase of 7.1%, while imports reached 13.66 trillion yuan, a year-on-year decrease of 0.2%. In September, imports and exports totaled 4.04 trillion yuan, a year-on-year increase of 8%.

3. [Federal Reserve] Federal Reserve Chair Paulson stated that she supports two more interest rate cuts this year, each by 25 basis points. Paulson stated that monetary policy should ignore the impact of tariffs on consumer prices because she believes the conditions for tariff-induced price increases to evolve into sustained inflation are not present.

4. [India CPI] India's CPI rose 1.54% year-on-year in September, slightly higher than economists' forecast of 1.5%, but significantly lower than August's 2.07% increase, marking the slowest growth rate in eight years. Weak inflation has reinforced market expectations for a December interest rate cut by the Reserve Bank of India.

Energy

1. [Crude Oil] On October 13, international crude oil futures closed higher. The November contract for U.S. West Texas Intermediate (WTI) crude oil futures settled at $59.49 per barrel, up $0.59, or 1.0%. The December contract for Brent crude oil futures settled at $63.32 per barrel, up $0.59, or 0.9%.

2. [Crude Oil] On October 13, the Organization of the Petroleum Exporting Countries (OPEC) maintained its forecasts for global oil demand growth in 2025 and 2026. OPEC expects global oil demand to grow by 1.3 million barrels per day in 2025, compared to its previous forecast of 1.29 million barrels per day. OPEC maintained its forecast for global oil demand growth in 2026 at 1.38 million barrels per day. OPEC expects global crude oil demand to reach 106.57 million barrels per day in 2025 and 107.87 million barrels per day in 2026.

3. [Crude Oil] On October 13, the Organization of the Petroleum Exporting Countries (OPEC) released data showing that Russia's oil production increased to 9.321 million barrels per day in September, up 148,000 barrels per day from August, as major global oil-producing countries continued to increase production.

4. [Crude Oil] On October 13, Saudi Aramco CEO Amin Nasser stated that the company can maintain its maximum crude oil production capacity of 12 million barrels per day for a year without additional costs. Furthermore, crude oil demand is expected to grow by 1.1-1.3 million barrels per day this year and by 1.2-1.4 million barrels per day in 2026.

5. [Coal] According to the latest data from the Indian Ministry of Coal, India's coal production (excluding lignite) reached 68.18 million tons in September 2025, a decrease of 2.42% month-on-month and 1.04% year-on-year. Of this total, coking coal production accounted for 3.24 million tons, accounting for 4.8%. From January to September 2025, India's coal production (excluding lignite) totaled 771 million tons, a year-on-year increase of 0.68%.

6. [LNG] According to the General Administration of Customs, my country recently exported a liquefied natural gas (LNG) production platform valued at nearly 15 billion yuan. Its annual production capacity can support the domestic gas needs of a city with a population of 10 million.

7. [LNG] Jereh Shares announced that its wholly-owned subsidiary, Jereh Hengri, has signed a cooperation agreement with Alxa Yingtong to jointly build a 1.2 million tons/year liquefied natural gas (LNG) plant in Alxa League, to be constructed in two phases. Upon completion, it will be the largest single-site LNG plant and comprehensive energy base in China. The first phase of the project includes a 600,000 ton/year natural gas liquefaction unit and is scheduled to start production in September 2026.

8. [Petroleum Coke] On October 13, Yatong Petrochemical quoted 4A petroleum coke at 1,840 RMB/ton, up 90 RMB/ton from the previous trading day. The sulfur content is 4.5. The delayed coking unit has a capacity of 1.2 million tons/year and a daily output of 850 tons.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.