SunSirs: Energy Industries Bulk Commodity Intelligence (July 10, 2026)

Macroeconomics

1. [Carbon Peak Action] The State Council has issued the "Action Plan for Carbon Peaking during the 15th Five-Year Plan Period." By 2030, my country aims to reduce carbon dioxide emissions per unit of GDP by 17% compared to 2025 levels, raise the share of non-fossil energy consumption to 25%, and strive to increase the proportion of new energy vehicles (NEVs) in the total vehicle fleet to 30%. The Action Plan outlines five key tasks—such as accelerating the adjustment and optimization of the energy structure—and schedules major projects, including inter-provincial power mutual support and the clean substitution of coal consumption.

2. [Automotive] Latest data from the my country Association of Automobile Manufacturers (CAAM) shows steady growth in the production, sales, and exports of new energy vehicles (NEVs) during the first half of this year. Specifically, NEV production and sales reached 7.438 million and 7.446 million units, respectively, marking year-on-year increases of 6.7% and 7.3%. In June, NEV sales accounted for nearly 60% of total new vehicle sales.

3. [US Initial Jobless Claims] US initial jobless claims fell by 2,000 to 215,000 last week—slightly below the market expectation of 218,000—remaining near historical lows. However, the number of continuing claims rose to 1.814 million, hitting a high not seen since March.

Energy

1. [Crude Oil] International crude oil futures closed lower on July 9. The settlement price for the August contract of US WTI crude oil fell by $1.44 (2.0%) to $72.08 per barrel. The settlement price for the September contract of Brent crude oil dropped by $1.72 (2.2%) to $76.30 per barrel.

2. [Crude Oil] On July 9, the Brazilian government approved a 60-day extension of the 12% crude oil export tax. This measure was originally introduced in March of this year following a surge in oil prices caused by the conflict involving Iran.

3. [Crude Oil] On July 9, the office of Iraqi Prime Minister Ali al-Zaidi stated—during an interview with the Saudi broadcaster Al Arabiya—that Iraq would not withdraw from the Organization of the Petroleum Exporting Countries (OPEC) but is seeking a fair production quota within the group.

4. [LNG] Abu Dhabi National Oil Company (ADNOC) has signed a 15-year liquefied natural gas (LNG) supply contract with Japan's INPEX Corporation, involving the delivery of 1 million tonnes annually from the Ruwais LNG project.

5. [Petroleum Coke] On July 9, Yatong Petrochemical quoted its petroleum coke at 2,800 RMB/tonne, an increase of 30 RMB/tonne from the previous trading day. The product has a sulfur content of 2.8%; the facility operates a delayed coking unit with an annual capacity of 1.2 million tonnes and a daily output of 850 tonnes.

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