Bulletin: 163

Date: October 4, 2023

INTRODUCTION

As we had been announcing, the price increases in September have materialized, even despite a decrease in demand.

The average price of Brent crude oil has experienced an 8.8% increase compared to August, reaching a peak price of 97.69 $ per barrel.

Some analysts suggest that it could soon reach 100 $ per barrel, although a slowdown in the global economy could disrupt this projection. Nevertheless, in the first days of October, its price has sharply dropped to 90 $ per barrel.

Both Russia and Saudi Arabia have confirmed that they will maintain the additional production cuts in their oil supply until the end of 2023.

In November, the situation will be analyzed, and a decision will be made regarding the need to adjust crude oil production.

Saudi Arabia, on its part, continues with the reduction of 1 million barrels per day that it initiated in July last year.

Regarding PET, its price has increased by 50 € per ton in line with the rise in its raw materials, although as of the current date, there is no definitive closure for MEG.

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Este boletín está elaborado en base a la información y experiencia de nuestro equipo comercial. Marsella Global, SL presta especial atención a su elaboración, sin embargo, no podemos garantizar la exactitud y utilidad del contenido publicado.

El destinatario acepta el contenido de este boletín en el bien entendido de que Marsella Global, SL   no se hace responsable de los daños causados por el uso de la información contenida en este documento.