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On November 17th, Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), stated that automobile investment growth in 2025 will reach 17.5%, exceeding expectations in the past two years and reaching a historical high for the first ten months of recent years, far surpassing the investment growth rates of other manufacturing sectors. In October 2025, automobile production reached 3.28 million units, a year-on-year increase of 11%; new energy vehicle production reached 1.71 million units, a year-on-year increase of 19%, with a penetration rate of 52%; and gasoline vehicle production reached 1.57 million units, a year-on-year increase of 4%. From January to October 2025, automobile production reached 27.33 million units, a year-on-year increase of 11%; new energy vehicle production reached 12.67 million units, a year-on-year increase of 28%, with a penetration rate of 46%; and gasoline vehicle production reached 14.65 million units, remaining flat year-on-year.Indonesias state-owned oil company: It expects its daily oil and gas production to reach 1.03 million barrels of oil equivalent by 2025.Morgan Stanley: U.S. stocks are expected to outperform stocks in the rest of the world (ROW) in 2026.Morgan Stanley forecasts a year-end target of 7,800 for the S&P 500 by 2026.On November 17th, the National Medical Products Administration (NMPA) released an opinion on deepening the reform of cosmetics regulation to promote the high-quality development of the industry. The opinion proposes that by 2030, the legal system for cosmetics regulation will be more complete, the standards system more robust, technical support stronger, the industrys innovation vitality more abundant, risk prevention and control capabilities comprehensively enhanced, and the level of quality and safety significantly improved. By 2035, the cosmetics quality and safety regulatory system will reach the international advanced level, the regulatory system, mechanisms, and methods will better adapt to the inherent requirements of industrial innovation and high-quality development, the industry will have stronger innovation and creativity and global competitiveness, and regulatory modernization will be basically achieved.

Oil Quiet As Price Cap Suggestion Assists in Relieving Supply Concerns

Skylar Williams

Nov 25, 2022 14:48

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Benchmark Brent oil declined on Thursday, while West Texas Intermediate (WTI) crude remained unchanged, hovering at two-month lows due to uncertainty about the degree to which a proposed G7 restriction on the price of Russian oil would limit supply.


A larger-than-anticipated rise in gasoline inventories in the United States and an expansion of COVID-19 limitations in China also knocked on oil prices.


At 15.15 p.m. ET (2015 GMT), Brent oil prices decreased 29 cents, or 0.3%, to $85.12 per barrel, while U.S. WTI crude futures decreased 2 cents, to $77.96 per barrel.


Due to the Thanksgiving break in the United States, trade volumes were quite low.


The announcement on Wednesday that the expected price ceiling for Russian oil may surpass the current market level triggered a decrease of about 3 percent for both benchmarks.


European Union nations remained divided over what level to cap Russian oil prices to limit Moscow's ability to pay for its battle in Ukraine without causing a global oil supply shock; if positions converge on Friday, more conversations are possible.


A European official claimed that the G7 is discussing a cap of $65-$70 per barrel for Russian oil transported by sea, but European Union member states have not yet reached an agreement on a price.


A higher price ceiling might encourage Russia to continue selling its oil, decreasing the possibility of a global oil supply shortage.


According to two sources, several Indian refiners are discounting Russian Urals crude by between $25 and $35 per barrel compared to the worldwide benchmark Brent oil. Urals is Russia's principal crude export.


Despite the obstacles, Bart Melek, global head of commodities market strategy at TD Securities, is rather optimistic about oil. "The Russian price ceiling is another aspect that contributed to the current price fall," he stated.


The Energy Information Administration (EIA) said on Wednesday that gasoline and distillate inventories in the United States climbed substantially during the previous week. [EIA/S]


In contrast, oil stockpiles decreased by 3.7 million barrels to 431.7 million barrels in the week ending November 18, despite a Reuters survey predicting a reduction of 1.1 million barrels.


China reported the highest daily number of COVID-19 cases since the outbreak began over three years ago on Wednesday. Local officials intensified measures to remove the breakouts, raising investor anxiety over the economy and demand for fuel.

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