Date: March, 2020
- BRENT OIL
The crisis that is causing worldwide “Covid19”, is producing a considerable decrease in oil consumption and therefore, its price.
To try to stop this decline, OPEC, at its next meeting, will study an additional production reduction of 1,000,000 barrels per day.
This decrease in the price of oil in the medium term will consequently result in a decrease in plastic raw materials, as is already beginning to be noted in current prices.
PET.- The average price of PET in these first two months of the year has been at historical lows, that is, at 1997/1998 levels.
As for the price of flakes and rPET pellets, at the moment they have not noticed a significant downward price pressure, however it is foreseeable that this will occur shortly.