Fuel Oil Market Weekly Report

01 CONTENTS Fuel Oil Price Analysis （1）Daily Price Summary（2）Spot Price（3）Futures Price（4）Cost（5）Price Spread Fuel Oil Price Analysis-1.1FuelOilDailyPrice Summary Fuel Oil Price Analysis-1.1FuelOilDailyPrice Summary Fuel Oil Supply Analysis （1）CDU Utilization Rate（2）China Fuel Oil Production（3）Domestic Refinery Margins（4）Fuel Oil Production (Other Countries)（5）Supply Substitution Fuel Oil Demand Analysis （1）China's Fuel Oil Imports and Exports（2）China Apparent Fuel Oil Consumption（3）Total Vessel Calls at Ports（4）Singapore Fuel Oil Sales Volume（5）Freight Rate Index Fuel Oil Demand Analysis-3.1China's Fuel Oil Imports andExports Fuel Oil Demand Analysis-3.1China's Fuel Oil Imports andExports Fuel Oil Demand Analysis-3.2 China Apparent Fuel OilConsumption Fuel Oil Demand Analysis-3.6CDFI Fuel Oil Inventory Analysis （1）China's Fuel Oil Inventories（2）Fuel Oil Inventories of Other Countries 原油进口配额Disclaimer： ZhongtaiFutures Co.,Ltd.(hereinafter referred to as"the Company")is qualified to conduct futures tradingconsultationbusinessasapprovedbytheChinaSecuritiesRegulatoryCommission(CSRC)(CSRCLicenseNo.112[2012]).ThisreportisfortheexclusiveuseoftheCompany'sclientsonly.TheCompanywillnotconsidertherecipientofthisreportasaclientmerelybecausetheyhavereceivedit.Underno circumstancesdoestheinformationoropinionsexpressedinthisreportconstitutetradingadviceforanyindividual.TheCompanyassumesnoresponsibilityforanylossesincurredbyanypersonasaresultofusingthecontentofthisreport.Marketrisksexistandinvestmentshouldbemadewithcaution.Theinformation,viewsandforecastscontainedinthisreportreflectthejudgmentoftheCompany'sanalystsonthe dateofinitialrelease.Theyarebasedoninformationthattheanalystsconsiderreliableandpubliclyavailable.TheCompanystrivesbutdoesnotguaranteetheaccuracyandcompletenessofthisinformation,nordoesitguaranteethattheviewsorstatementsinthereportwillnotchange.Atdifferenttimes,theCompanymayissuereportsthatareinconsistentwiththeinformation,opinionsandpredictionsinthisreportwithoutpriornotice,andmayalsogiveopinionsthataredifferentorcontrarytothoseofotherbusinessdepartments,unitsoraffiliatedinstitutionsoftheCompanywhenpreparingsimilarmaterialsusingdifferentassumptionsandstandards,viewpointsandanalysismethods.TheCompanydoesnotundertaketheresponsibilitytoalerttherecipientsofthisreporttosuchmaterials.TheintellectualpropertyrightsofthisreportbelongtotheCompany.WithouttheCompany'swrittenpermission,no institutionorindividualmayreproduce,disseminate,adapt,sell,publish,broadcastoruseitforanyothercommercialpurpose.Ifitisquoted,publishedorreprinted,theCompany'sconsentmustbeobtainedandthesourcemustbeindicatedasZhongtaiFutures.Nopartofthisreportmaybequoted,abridgedormodifiedinawaythatiscontrarytotheoriginalmeaning.ThisEnglishreportisforreferenceonly.ThespecificcontentshouldbesubjecttotheChinesereportoftherelevant futuresvarieties.