SunSirs: Energy Industries Bulk Commodity Intelligence (December 22, 2025)

Macroeconomics

1. [LPR] The People's Bank of China kept the one-year and five-year Loan Prime Rates (LPR) unchanged at 3% and 3.5% respectively, marking the seventh consecutive month of no change.

2. [Japan Interest Rate Hike] On December 19th, the Bank of Japan, at its monetary policy meeting, decided to raise interest rates by 25 basis points, increasing the policy rate from 0.5% to 0.75%, reaching its highest level in 30 years.

3. [Russia Interest Rate Cut] The Central Bank of Russia announced on December 19th that it would lower its benchmark interest rate by 50 basis points to 16%. This is the fifth consecutive interest rate cut by the Russian central bank.

Energy

1. [Crude Oil] On December 19th, international crude oil futures closed higher. The settlement price of the February contract for WTI crude oil futures was $56.52 per barrel, an increase of $0.52 or 0.9%. The settlement price of the February contract for Brent crude oil futures was $60.47 per barrel, an increase of $0.65 or 1.1%.

2. [Crude Oil] China National Offshore Oil Corporation (CNOOC) announced on the 21st that the Bohai Oilfield, my country's largest offshore oilfield, will have accumulated oil and gas equivalent production exceeding 40 million tons by 2025, setting a new historical record and providing a solid guarantee for national energy security and high-quality economic and social development.

3. [Refined Oil] The domestic refined oil price adjustment window opened at 24:00 on December 22nd, and refined oil retail prices were lowered again.

4. [Coking Coal] On December 19th, the coking coal market in Qujing was weak. A10.5 low-sulfur main coking coal was priced at 1,550-1,600 RMB/ton; A15 low-sulfur main coking coal was priced at 1,250-1,300 RMB/ton.  All prices are ex-factory, cash, and inclusive of tax.

5. [Petroleum Coke] On December 19th, Zibo Xintai Petrochemical Co., Ltd. quoted petroleum coke at 2,000 RMB/ton, an increase of 50 RMB/ton compared to the previous trading day. Sulfur content is 5.0, vanadium content is 590, and the daily production of petroleum coke is 500 tons. The company's shipments are normal.

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