Energy:
1. BP CEO: Oil demand remains strong, with aviation and petrochemical products driving 1% of oil demand growth.
2. Total Energy CEO: I believe global renewable energy will double by 2040. We can currently meet oil demand; we are not actually seeing underinvestment.
3. US Deputy Secretary of Energy: We are seeing energy demand rising rapidly. The US Strategic Petroleum Reserve is depleted, and the current priority is to replenish it as quickly as possible.
4. Panama Canal Commissioner: The passage of liquefied petroleum gas (LPG) vessels is expected to continue to increase.
5. Saudi Aramco's third-quarter profits exceeded expectations, with production growth offsetting the impact of weak oil prices. Saudi Aramco: This quarter, the company raised its natural gas sales capacity growth target from "over 60%" to "around 80%". It expects total production of natural gas and associated liquids to reach approximately 6 million barrels of oil equivalent per day by 2030.
Precious Metals and Mining:
1. Sources: Glencore plans to close its Horn copper smelter in Canada. 2. Citigroup: New gold tax regulations may increase procurement costs by 7%; further implementation details are expected to be clarified in the coming days.
3. UBS: Gold prices face upside risks if political or financial market volatility intensifies again, potentially reaching $4,700/ounce.
4. London Metal Exchange: Trading in metal options denominated in non-US dollar currencies has been suspended since November 10th due to years of inactivity.
5. Secretary of the Indian Steel Ministry: Iron ore supply is ample, and shortages are unlikely in the foreseeable future. Increased investment in specialty steel is needed. Coking coal imports may increase.
6. Minister of Agriculture of Kazakhstan: Grain production hit a record high of 27.1 million tons.
7. US soybean farmers: The government's unstable tariff policies are creating continued pressure.
