SunSirs: Energy Industries Bulk Commodity Intelligence (January 8, 2026)

Macroeconomics

1. [Foreign Exchange Reserves] Central Bank: As of the end of December 2025, my country's foreign exchange reserves amounted to US$3,357.9 billion, an increase of US$11.5 billion month-on-month, reaching a new high since December 2015.

2. [Automobiles] According to the China Passenger Car Association, in December 2025, retail sales of passenger cars in my country reached 2.296 million units, a year-on-year decrease of 13% and a month-on-month increase of 3%. Of these, new energy vehicles accounted for 1.387 million units, a year-on-year increase of 7% and a month-on-month increase of 5%, with a new energy vehicle retail penetration rate of 60.4%.

3. [US ADP Employment] US ADP employment increased by 41,000 in December, compared to an estimated increase of 50,000 and a previous decrease of 32,000.

4. [Eurozone CPI] The Eurozone CPI rose by 0.2% month-on-month in December, in line with expectations; the Eurozone CPI rose by 2.0% year-on-year in December, also in line with expectations. The Eurozone core CPI rose by 2.3% year-on-year in December, compared to an expected 2.4%.

Energy

1. [Crude Oil] On January 7th, international crude oil futures closed lower. The settlement price of the February contract for US WTI crude oil futures was US$55.99 per barrel, a decrease of US$1.14 or 2.0%. The settlement price of the March contract for Brent crude oil futures was US$59.96 per barrel, a decrease of US$0.74 or 1.2%.

2. [Crude Oil] US Energy Secretary Chris Wright said on January 7th that the United States plans to maintain control over Venezuela's oil industry, including "indefinitely" regulating the country's oil sales abroad. He said that Venezuela's future oil production will be led by the United States into the international market. It is unclear under what legal authority the US government intends to implement these arrangements.

3. [Crude Oil] Iraq's total crude oil (including condensate) exports in November 2025 amounted to 106,593,352 barrels. The average daily crude oil export volume was approximately 3.553 million barrels per day. The total value of oil exports was US$6,595,391,000. The average price per barrel was approximately US$61.87. 4. [Gasoline] Recently, Hengyi Petrochemical announced its decision to fully launch the construction of the second phase of the PMB petrochemical project (i.e., the second phase of the Brunei refinery project), aiming for completion by the end of 2028. The second phase of the Brunei refinery project mainly includes four parts: "refining, aromatics, ethylene, and polyester," with the four related industrial chains highly integrated. The designed production capacity of the second phase project has been adjusted to 12 million tons/year, mainly producing diesel, PX, benzene, polypropylene, and other high-value-added refined oil and chemical products.

5. [LPG] On January 7, 2026, the latest price of liquefied petroleum gas from Shandong Jincheng Petrochemical Group Co., Ltd. increased by 30 RMB/ton to 4,460 RMB/ton.  Daily production is approximately 200 tons, and inventory is low.

6. [Coking Coal] On January 7, the price of coking coal in the Jinzhong market fell by 10 RMB/ton. The ex-factory price of medium-sulfur prime coking coal (A10.5, S1.3, V25, G80, CSR65, petrographic composition 0.15) was 1,250 RMB/ton (cash, including tax).

7. [Petroleum Coke] On January 7, Huaxiang Petrochemical quoted petroleum coke at 2,800 RMB/ton, an increase of 30 RMB/ton compared to the previous trading day. Sulfur content is 2.8, the delayed coking unit has a capacity of 400,000 tons/year, and daily production is 450 tons.

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