Demand expectations suffer another blow, WTI falls to a new low for the year.
This week (9.5-9.11), the overall crude oil price showed a downward trend. The average price of WTI this week is $67.72 per barrel, a decrease of $4.53 per barrel, or -6.27% compared to the previous week.
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Zhongtai Securities: The performance of the three major oil companies is impressive, and the fixed price supports the profit of Changsi.
The growth rate of the polyester filament industry is expected to slow down significantly in 2024. According to the statistics of Zhongtai Securities, the industry is expected to only add about 0.95 million tons of capacity in 2024. Considering the shutdown/reduction and elimination of some facilities, the actual increase in production may be even lower, and the overall capacity of the industry may have already reached its peak.
US Total Crude Oil Stocks Rebound in Week Ended Sept. 6