US oil rigs totaled 449 in the week to Sep 4, up from 447 the prior week.

Morningstar says Tencent’s AI build-out will not be a sustained cash drain. After large compute purchases for training, the Hunyuan large language model (LLM) is expected to improve quickly; if Hunyuan underperforms, Tencent can lease the hardware to third parties to recoup investment. Morningstar sees the greatest long-term upside from commercializing AI across advertising, gaming and WeChat AI agents. Morningstar projects Tencent’s free cash flow turns positive in 2027, creating scope for larger share buybacks thereafter.

Shenzhen’s Virtual Power Plant Town Phase II PV project completed full-system acceptance on the 3rd for visibility, measurability, dispatchability and controllability and was formally grid‑connected, becoming the city’s first PV demonstration aggregated via a virtual power plant. The milestone marks a new phase in China Southern Power Grid’s distributed-resource control capability.