Global Energy Research Highlights

This report provides a summary of the research produced by J.P. Morgan Global Energy Equity Research for the week ending Oct 16, 2026. It covers E&P, integrated oil, refining, oil services & equipment, utilities, mining and renewables. Key highlights include: EIA weekly data and refining weeklies (Singapore clean products build ~3.1 mmbbls w/w, near seasonal highs; California gasoline inventories up ~0.6 mmbbls w/w, still below seasonal lows); EU Oil & Gas model update post 3Q results (TotalEnergies, BP, OMV, Galp); China/HK electrical equipment and utilities ("Shelter from the Storm"); China renewable operators with nuclear standing out; China tanker shipping and shipbuilding ("Out of the shadows, but not into the mainstream — buy on dips");