The main contract of China's INE crude oil futures just broke through the 520.0 yuan/barrel mark, now quoted at 519.9 yuan/barrel, down 3.76% on the day.

Goldman Sachs: The market's bets on Federal Reserve policy remain too hawkish, and the likelihood of a rate hike in September is very small

National Bureau of Statistics: Crude oil production shifted from decrease to increase. In July, the crude oil output of industrial enterprises above designated size reached 18.27 million tons, a year-on-year increase of 0.8%, compared to a decrease of 0.5% in June; the average daily output was 589,000 tons. From January to July, the crude oil output of industrial enterprises above designated size was 127.69 million tons, a year-on-year increase of 0.9%.

National Bureau of Statistics: The decline in crude oil processing has narrowed. In July, the crude oil processing volume of industrial enterprises above designated size was 53.11 million tons, a year-on-year decrease of 15.8%, with the decline narrowing by 1.9 percentage points compared to June; the daily average processing volume was 1.713 million tons. From January to July, the crude oil processing volume of industrial enterprises above designated size was 396.96 million tons, a year-on-year

National Bureau of Statistics: In July, the raw coal output of large-scale industrial enterprises was 340 million tons, a year-on-year decrease of 10.1%; the daily average output was 11.07 million tons. From January to July, the raw coal output of large-scale industrial enterprises was 2.7 billion tons, a year-on-year decrease of 2.9%.