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On September 18th, according to data from the third-party travel platform "Flight Manager," the civil aviation industry is expected to operate a total of 219,000 passenger flights during the Mid-Autumn Festival and National Day holiday in 2026 (September 25th to October 7th), averaging over 16,800 flights per day, a year-on-year increase of 2%. Airfares have also risen. According to Flight Managers booking data, as of September 17th, the average booked price for domestic economy class tickets during the 2026 National Day holiday is approximately 973.7 yuan, a year-on-year increase of 9%. Looking at price trends, the long holiday has accelerated travel, with peak passenger flows relatively dispersed, and some routes still offering price advantages during the holiday. The official direct sales platform of TravelSky shows that, as of now, routes such as Beijing to Taiyuan, Hulunbuir, Changchun, and Lanzhou; Shanghai to Qingdao, Shijiazhuang, Wuhan, Changsha, and Chengdu; and Guangzhou to Zhanjiang, Jieyang, Fuzhou, Changsha, Qionghai, and Sanya all have tickets available for around 300 yuan during the National Day holiday. The extended holiday has also further fueled the outbound tourism market. This years National Day and Mid-Autumn Festival holidays saw a surge in cross-border travel demand across various destinations, with both long-distance and short-distance destinations experiencing a rise in popularity.On September 18th, ten departments, including the Ministry of Culture and Tourism and the National Development and Reform Commission, issued "Several Measures to Promote RV Consumption," which includes implementing an RV consumption promotion campaign. The measures encourage eligible regions to improve their RV consumption promotion policies, promote new RV lifestyles, cultivate an RV consumption culture, and raise the level of RV consumption. Regions with car purchase restrictions are encouraged to optimize RV management measures, shifting from purchase management to usage management. Pilot cities for automobile circulation and consumption reform are supported in including RV consumption promotion as a reform task, and pilot cities for new consumption formats, models, and scenarios are encouraged to include eligible RV campsites and other consumption scenarios in their support scope. Support is given to including RV campsites in tourism promotion activities, promoting coordinated discounts between campsite consumption and surrounding consumption formats. RV-friendly destinations will be launched in batches.On September 18th, ten departments, including the Ministry of Culture and Tourism and the National Development and Reform Commission, issued "Several Measures to Promote RV Consumption," which mentions strengthening the supply and management services of RV tourism products. It guides eligible regions to integrate cultural and tourism resources to create a number of distinctive RV tourism routes. It encourages tourism enterprises to integrate resources related to RV sales, rentals, and travel to launch customized tourism products and cultivate and expand the RV consumption market. It also promotes the development of high-quality self-driving tourism roads, with parking areas and viewing platforms along the routes taking into account the parking needs of RVs. Furthermore, it regulates RV camping behavior, addressing issues such as illegal use of open flames, illegal parking, unauthorized construction, illegal connections to water and electricity, littering, and damage to public facilities and green spaces, while advocating for Leave No Trace camping.According to South Korean media reports, South Korea has secured 70% of its crude oil supply for November and has secured more than 90% of its crude oil supply for September and October.EDF (Électricité de France) plans to build 10 small modular reactors (SMRs) for nuclear power generation in Europe by 2035, a project worth tens of billions of euros. One SMR is planned for Italy, with a target completion date of 2035.

Oil prices fluctuated as the possibility of an OPEC output cut alleviated demand worries

Skylar Williams

Aug 29, 2022 11:32

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Oil prices were mixed on Monday as investors weighed the likelihood that the Organization of Petroleum Exporting Countries (OPEC) will reduce output to support prices against the Federal Reserve chairman's statement that the United States will experience a period of sluggish economic growth "for some time."


U.S. West Texas Intermediate (WTI) oil futures rose 2 cents to $93.08 per barrel at 00:03 GMT, extending Friday's gain.


Brent crude futures dropped 27 cents, or 0.3%, to $100.72 a barrel, erasing the prior session's gains.


Powell noted in a speech on Friday that limiting inflation "is likely to require a sustained period of below-trend growth" and would "bring some pain to consumers and companies," which rocked equity markets and strengthened the currency.


In Monday's early trading, the dollar index rose 0.3% to 109.16. A rising dollar is detrimental to the oil market because it raises the price of petroleum for buyers holding foreign currencies.


However, oil prices have been bolstered by statements from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries and their allies, known collectively as OPEC+, that they may decrease supply in order to achieve market balance.


Friday, a source familiar with the matter told Reuters that the United Arab Emirates and Saudi Arabia share the same output policy philosophy, while the Omani oil ministry declared that it supports OPEC+ efforts to maintain market stability.


Sources said last week that OPEC would consider decreasing output to offset any increase from Iran should oil sanctions be reinstated if Tehran chose to revive a nuclear accord.


As U.S.-Iran nuclear discussions continue, traders' focus will return to supply and demand, according to CMC Markets analyst Tina Teng.


In a report, experts from ANZ Research claimed that signs of growing demand are also supporting prices, in part due to higher natural gas costs in Europe, which have spurred power generators and industrial users to switch to diesel and fuel oil.

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