Energy:
1. According to relevant data and institutional calculations, Russia's offshore oil product exports in January increased by 0.7% compared to December.
2. US President Trump: All US wind turbine projects have been essentially halted.
3. US Energy Secretary Wright: We have completed over $1 billion in Venezuelan oil sales and expect to add another $5 billion.
4. Market news: Venezuela plans to grant more oil field drilling block rights to foreign companies such as Chevron and Repsol.
5. Sources say Qatar raised its April Al Shaheen crude oil price to a premium of 87 cents per barrel over Dubai crude.
6. French energy planning law: By 2035, the target for new solar power capacity is 55 to 80 gigawatts; the target for new onshore wind power capacity is 35 to 40 gigawatts; and the target for new offshore wind power capacity is 15 gigawatts.
7. The Ukrainian Foreign Ministry announced that Russian oil shipments to Europe via the "Friendly" pipeline in Ukraine have been suspended since January 27 due to attacks launched by Russia.
8. An internal Russian memo reveals that Russia has proposed seven suggestions for economic cooperation with the US to garner Trump's support, including joint plans in the energy, mining, and fossil fuel sectors.
9. The IEA monthly report lowered its 2026 global oil supply growth forecast from 2.5 million barrels per day to 2.4 million barrels per day; its 2026 global crude oil demand growth forecast was lowered from 930,000 barrels per day to 850,000 barrels per day.
Precious Metals and Mining:
1. Turkey's silver imports hit a record high last month, surging 766% year-on-year.
2. The US Department of Energy announced it will allocate $175 million to upgrade coal-fired power plants.
3. Goldman Sachs predicts continued growth in Chinese zinc supply, meaning that from 2026 onwards, China can meet its domestic demand solely through domestic production capacity.
4. Statistics South Africa: Gold production in December increased by 1.1% year-on-year, while total mining output rose by 2.5% year-on-year. Platinum group metals production in December decreased by 7.7% year-on-year.
5. World Gold Council: In January, Chinese gold ETFs saw inflows of RMB 44 billion, a record high for the start of the year, with both total assets under management (AUM) and total holdings hitting new historical records.
6. Ghana Mining Association: Preliminary data for Ghana's gold production in 2025 shows a record high of 6 million ounces. Gold production in 2026 is projected to reach 6.5 million ounces.
7. ANZ Bank: Raised its gold price forecast, expecting gold to reach $5,800/ounce in the second quarter of 2026 (previously $5,400/ounce). It anticipates silver will underperform gold, causing the gold-silver ratio to return to 70.
