On May 2nd, Venezuela's crude oil exports rose for the third consecutive month, surpassing 1 million barrels per day in April. Indian refiners were the largest buyers of Venezuelan oil. U.S. fuel producers increased imports, reaching nearly 407,000 barrels per day in April, up 16% from the previous month. Chempricehub's crude oil bullish/bearish rating: -1. Venezuela's crude oil exports have increased for three consecutive months, with April exports exceeding 1 million bpd. Meanwhile, U.S. crude oil imports rose 16% month-on-month in April, intensifying expectations of a looser global crude supply, directly exerting bearish pressure on both spot and futures crude oil prices.

Fuel oil, bullish/bearish rating: -0.5. Crude oil is the core feedstock for fuel oil; bearish crude oil prices will drive downward expectations for fuel oil production costs, exerting a slight bearish influence on fuel oil prices. The latest Shanghai International Energy Exchange fuel oil main contract (August 2026) settled at 4,462 yuan/ton, up 148 yuan/ton on the day, showing near-term strength supported by demand but with rising cost-side pressure.

Petroleum asphalt, bullish/bearish rating: -0.5. Crude oil is the primary feedstock for petroleum asphalt; looser crude supply leads to downward cost expectations, exerting a slight bearish influence on petroleum asphalt prices. The latest Shanghai Futures Exchange petroleum asphalt main contract (August 2026) settled at 4,439 yuan/ton, up 43 yuan/ton on the day, near-term strength driven by infrastructure demand, but cost-side pressure will gradually emerge.

Liquefied petroleum gas (LPG), bullish/bearish rating: -0.5. LPG is partly derived from crude oil refining; bearish crude oil prices will drive downward cost expectations, exerting a slight bearish influence on LPG prices. The latest Dalian Commodity Exchange LPG main contract (May 2026) settled at 6,236 yuan/ton, up 73 yuan/ton on the day, showing near-term strength but with cost-side headwinds.