Benchmark Dubai crude futures intermonths were mostly steady at noon Oct. 1 amid poor Asian demand outlook, as market participants awaited fresh cues including the release of Middle East official selling prices.
South Korea’s exports rebounded for the first time in seven months in September, data showed Thursday, helped by increased shipments of chips and automobiles as major trade partners gradually resumed their business activities amid the pandemic.
Output of liquefied petroleum gas (LPG) in the east of Russia is expected to increase by 1.0-1.2 million tonnes next year, according to producers’ plans, although exports to energy-hungry Asia could be limited by a lack of infrastructure.
Meantime, world oil indexes demonstrated irregular changes on Sep.30.
Saudi Arabia’s domestic crude oil stockpiles have climbed to the highest since the coronavirus pandemic hit the market hardest in April.
Stockpiles of refined oil products at Fujairah in the UAE have dropped to an eight-month low.
The JV will leverage both companies’ complementary strengths for water and process treatment chemicals solutions for the refinery, petrochemicals, fertiliser, power and desalination, paper, and metal industries in the GCC region.
Oil accelerated losses as uncertainty over progress on another round of U.S. fiscal relief added to supply concerns with OPEC+ raising output.
The COVID-19 pandemic has created economic disruption leading to downfall in demand for petrochemical products, including propylene and its derivatives.
The Covid-19 pandemic has created economic disruption leading to downfall in demand for petrochemical products, including propylene and its derivatives.