SunSirs: On June 7, 2023, the Domestic Market Dynamics of Toluene
June 08 2023 13:56:34 SunSirs (John)
Fluctuation trend:
Analysis review
In terms of crude oil, the United States House of Representatives passed the bill related to the Debt limit of the United States, and several officials of the Federal Reserve hinted that interest rate hikes would be suspended in June. Investors' concerns about the economic outlook declined; There were disagreements within OPEC+ regarding the need for further production cuts. African member countries strongly opposed further production cuts. Eventually, OPEC's official website released a statement stating that OPEC+'s production capacity will be 40.46 million barrels per day next year, a decrease of 1.393 million barrels per day compared to the current one. In addition, Saudi Arabia announced an additional 1 million barrels per day in July, boosting oil prices. However, an increase in oil supply from Russia and the United States had put pressure on oil prices. International crude oil closed lower on Tuesday, influenced by macroeconomic sentiment, the toluene industry had a cautious mindset and operated toluene in a consolidation.
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