SunSirs: Energy Industries Bulk Commodity Intelligence (January 27, 2026)

Macroeconomics

1. [Macroeconomic Policy] The People's Bank of China held a macroeconomic prudential work conference in 2026, emphasizing the gradual expansion of the coverage of macroeconomic prudential policies, proactively assessing systemic financial risks, innovating and enriching the policy toolkit, and maintaining the stable operation of the financial market and the overall stability of the financial system.

2. [Industrial Enterprise Profits] According to data from the National Bureau of Statistics, in 2025, the total profits of industrial enterprises above designated size nationwide reached 7,398.2 billion RMB, a year-on-year increase of 0.6%. In 2025, the mining industry achieved total profits of 834.51 billion RMB, a decrease of 26.2% year-on-year; the manufacturing industry achieved total profits of 5,691.57 billion RMB, an increase of 5.0%; and the electricity, heat, gas, and water production and supply industries achieved total profits of 872.12 billion RMB, an increase of 9.4%.

3. [US-South Korea Tariffs] On January 26, Trump announced on social media that because the South Korean parliament had not yet approved the trade agreement previously reached between the two governments, the US tariffs on imports of South Korean automobiles, timber, pharmaceuticals, and other "reciprocal tariffs" would be increased from 15% to 25%.

Energy

1. [Crude Oil] On January 26, international crude oil futures closed lower. The settlement price of the March contract for US WTI crude oil futures was $63.63 per barrel, a decrease of $0.44 or 0.7%. The settlement price of the April contract for Brent crude oil futures was $64.77 per barrel, a decrease of $0.30 or 0.5%.

2. [Crude Oil] On January 26, a preliminary survey showed that US crude oil and gasoline inventories were expected to increase last week, while distillate fuel inventories were likely to decline. The average estimate of four analysts surveyed was that US crude oil inventories increased by approximately 1.5 million tons in the week ending January 23.  Distillate fuel inventories, including diesel and heating oil, were estimated to have decreased by approximately 1.6 million barrels last week, while gasoline inventories were estimated to have increased by approximately 100,000 barrels.

3. [Crude Oil] According to data from the Iraqi State Oil Marketing Organization (SOMO), Iraq's total crude oil exports in 2025 will be 1,243,496,885 barrels, with an average monthly export volume of 103,624,740 barrels and an average daily export volume of 3,454,000 barrels.

4. [LNG] The EU Council has approved a ban on Russian natural gas. The EU will completely ban the import of Russian liquefied natural gas (LNG) from January 1, 2027, and completely ban the import of Russian pipeline natural gas from September 30, 2027.

5. [Naphtha] In December 2025, my country's naphtha imports amounted to 1.3519 million tons, a decrease of 369,300 tons compared to the previous month, a drop of 21.46%. The cumulative import volume from January to December was 16.8318 million tons, an increase of 4.6806 million tons compared to the previous year, a rise of 38.52%.

6. [Petroleum Coke] On January 26, the price of Shangneng Petrochemical's pellet coke was 1,150 RMB/ton, an increase of 10 RMB/ton compared to the previous trading day, with a sulfur content of around 5, and a daily production of 600 tons of petroleum coke.

7. [Coking Coal] On January 26, the price of coking coal in Yaodu District, Linfen City, decreased by 20 RMB/ton. The ex-factory price (cash, including tax) for high-sulfur strong coking coal (A10.5, S4.1, V31, G100, Y40, CSR75, Mt10) was 1,190 RMB/ton.

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