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August 27 - At the invitation of Zhao Leji, Chairman of the Standing Committee of the National Peoples Congress, Austrian National Council Speaker Rosenkrantz will lead a delegation to China from August 29 to September 4.On August 27th, the Shanghai Securities Regulatory Bureau, the Asset Management Association of China, and other relevant departments held a training course on private equity compliance and policy interpretation in Shanghai for 2026. The training covered topics including: interpretation of the "Implementation Plan for Comprehensive Rectification of Illegal Cross-border Securities, Futures and Fund Operations"; interpretation of the "Guiding Opinions of the General Office of the State Council on Strengthening Supervision, Preventing Risks, and Promoting High-Quality Development of Private Equity Investment Funds"; a brief analysis of illegal and irregular activities in the Shanghai jurisdiction and compliance requirements; common issues and warnings in self-regulatory inspections; key points of securities and futures arbitration rulings; and analysis of private equity fund cases.On August 27th, it was reported that in July 2026, power trading institutions nationwide completed 740.4 billion kWh of electricity transactions, a year-on-year increase of 18.5%. In terms of transaction scope, intra-provincial transactions totaled 549.1 billion kWh, a year-on-year increase of 19.0%; inter-provincial and inter-regional transactions totaled 191.3 billion kWh, a year-on-year increase of 17.2%. In terms of transaction types, medium- and long-term transactions totaled 678.6 billion kWh; spot transactions totaled 61.8 billion kWh. Green electricity transactions totaled 27.7 billion kWh, a year-on-year increase of 2.7%. Power grid companies purchased 87.2 billion kWh through market-based agency services.The main fuel oil futures contract rose by 2.00% intraday, currently trading at 3749.00 yuan/ton.Gold prices rose slightly on Thursday, August 27th, as concerns about currency devaluation persisted and market attention turned to Federal Reserve Chairman Warshs highly anticipated speech this week. Kelvin Wong, senior market analyst at OANDA, stated that the narrative of a depreciating dollar, coupled with concerns about the US budget deficit, continues to support gold in the medium term. The US Treasurys announcement of expanding its purchases of older, long-term bonds triggered dollar devaluation concerns, causing gold prices to rise by more than 5% last week. Wong added, "The market is waiting for Warshs speech to gain a clearer understanding of how the Fed will respond to the current economic situation. If he doesnt provide specific forward-looking monetary policy guidance, then the markets current pricing in interest rate hikes is likely to remain largely unchanged." Geopolitically, the Qatari Prime Minister will visit Tehran to resume diplomatic mediation. The US and Iran have previously exchanged accusations, with the focus of the dispute being Washingtons commitment to increase economic pressure on Tehran through sanctions against Irans trading partners.

The world's largest independent crude oil trader: oil prices still need to look at OPEC+'s face in the next few months

Oct 26, 2021 10:58

Mike Muller, Asia director of Vitol Group, the world's largest independent crude oil trader, said that in the coming months, the Organization of Petroleum Exporting Countries and its allies (OPEC+) will continue to be the main factor in oil price fluctuations, and pricing control is largely in the hands of OPEC+. . In the United States, if you need additional oil, then your production simply cannot keep up with the number of rigs.

Compared with three years ago, this is a considerable change. At that time, due to the second shale oil boom, the United States became the world's largest oil producer, which was considered to be the main factor in the rise of oil prices.

On Monday (October 4) OPEC+ agreed to maintain the current gradual increase in production plan. At the ministerial meeting that day, OPEC+ member states agreed to increase production by 400,000 barrels per day from November. OPEC+ is still in progress at 580 10,000 barrels per day of production reduction measures, but plans to gradually withdraw the production reduction agreement by April 2022 through increased production. The news of maintaining the existing production increase plan boosted oil prices on Monday. U.S. crude oil hit a new high since November 2014, and Brent crude oil hit a new high since October 2018.

Some analysts said that the Organization of the Petroleum Exporting Countries (OPEC) is unlikely to acquiesce in requesting more production and lower prices, not only because it benefits from higher prices, but also because some member states cannot increase their production capacity and they do not This oil supply is stored to maintain a higher supply.

Stephen Brennock of the oil broker PVM said on Friday that the outlook for oil prices in the near term is still supportive. The current price trend is a recovery, and only people with strong financial resources will short oil.

If winters in the northern hemisphere are as cold as expected, this dynamic in the oil market may last longer. As Europe’s natural gas reserves are below the 5-year average, despite the bleak long-term outlook, oil demand is likely to remain strong for a long time. This means that OPEC+ will continue to issue orders under the leadership of the member states with the most spare capacity.

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