Cathay Pacific Haitong released a research report saying that international oil prices rose overall in August, geographical disturbances intensified, and global inventories continued to decline. Q4 supply expectations were further lowered. Geographic risks and low inventories supported oil prices, but negative feedback from high oil prices on demand gradually became apparent. The three institutions anticipate differences in demand forecasts. The IEA and EIA expect demand to decline in 2026, and OPEC is expected to maintain growth. Oil prices fluctuated strongly, recommending upstream companies and companies benefiting from alternative routes.

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