Brent crude rose to $70.36 before retreating to $69, with Goldman Sachs projecting a $66/bbl average for H2 2025. OPEC+ plans to add 548 kb/d in August, aiming to balance moderate demand with controlled supply. Natural gas held near $3.08/MMBtu, though futures briefly spiked on heatwave forecasts. U.S. rig activity fell again, with the total at 537—the lowest since October 2021—signaling potential constraints on future supply.
Petrochemical markets remain under pressure, with global oversupply and persistent downstream weakness in coatings and construction. Asia and North America show particularly sluggish demand, while the EU and India pursue supply chain resilience through integration. Geopolitical volatility—driven by U.S.–Russia sanctions, Middle East unrest, and trade friction—continues to weigh on sentiment. CJ Chemical is advised to maintain margin discipline, hedge feedstock exposure, and consider strategic shifts toward integrated operations and regional alignment.
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