Energy
1. Indian government: India's crude oil production fell 3.9% year-on-year in April.
2. According to Yonhap News Agency: The South Korean government will extend fuel tax relief until the end of July.
3. British Prime Minister Starmer will continue the fuel tax freeze for the remainder of the year.
4. Indonesian Energy Minister: There will be no reduction in natural gas export quotas in 2026.
5. Chairman of the Thai National Security Council: Aviation fuel exports to Vietnam and the Philippines will be permitted.
6. Iranian President: During the war, Iran's oil industry ensured that national fuel production and supply chains were not disrupted.
7. European Commission official: The Commission believes EU countries can reduce natural gas consumption by 15 billion cubic meters this year.
8. According to Reuters calculations: Benefiting from rising global oil prices, Russia's national oil and gas revenue in May is expected to increase by 39% year-on-year, reaching 700 billion rubles.
9. Japan's crude oil imports in April saw the largest year-on-year decline since 1980, with imports from the Middle East falling by 67.2% year-on-year, the lowest level since comparable data became available in 1979. 10. CEO of Abu Dhabi National Oil Company: The closure of the Strait of Hormuz is the most severe supply disruption in history; it will take at least four months to restore flow to 80% of pre-conflict levels.
11. CEO of Abu Dhabi National Oil Company: Global spare capacity is approximately 3 million barrels per day and should reach 5 million barrels per day. Global oil demand is projected to exceed 100 million barrels per day by 2040.
12. JODI (Joint Oil Data Center): Saudi Arabia's crude oil inventories fell by 17.912 million barrels in March to 152.645 million barrels; crude oil production fell by 3.915 million barrels per day to 6.967 million barrels per day; crude oil exports fell by 2.302 million barrels per day to 4.974 million barrels per day.
Precious Metals and Mining
1. Data shows: Russia's gold holdings fell to 73.9 million ounces in April.
2. International Aluminium Institute (IAI): Global primary aluminum production in April was 5.922 million tons.
3. Sources: The EU is negotiating with major ports, including Rotterdam, to store critical minerals. The EU has included tungsten, rare earth elements, magnesium, and gallium in its pilot reserve candidate list.
4. CEO of Freeport Indonesia: 2026 cathode copper production is projected at 800 million pounds, and gold production at 700,000 ounces; 2027 copper cathode production is projected at approximately 1.2 billion pounds, and gold production at 1 million ounces.
5. Codelco, Chile's state-owned copper mining company: An internal audit revealed potential irregularities in its 2025 copper production report, leading to the dismissal of a senior executive and disciplinary action against other related personnel.
Other: 1. According to Interfax: Russia has been granted the right to export beef to Indonesia.
2. UN agency: Closure of the Strait of Hormuz could trigger a severe food crisis within 6 to 12 months.
3. Maersk: Due to the security situation in the Middle East, it will adjust emergency surcharges for other regions globally to upstream Gulf countries.
