The price of crude oil soared, and the price of polyester soared with it

On October 5, "OPEC+" held its 33rd ministerial meeting in Vienna, the capital of Austria, and decided to significantly reduce production from November this year, reducing monthly production by 2 million barrels per day on the basis of August production. The production cuts are equivalent to 2% of the world's average daily oil demand. Biden: Disappointed at the short-sightedness of 'OPEC+'

After the meeting, OPEC issued a statement saying that in view of the uncertainties in the outlook of the global economy and the oil market, it is necessary to strengthen long-term guidance for the oil market and take proactive and preventive intervention measures. Production cut decision.

Goldman Sachs said: OPEC+ production cuts are very beneficial to the oil market, raising its oil price forecast for the fourth quarter by $10 to $110 per barrel.

According to Citi Research, the overall decline of 2 million bpd in OPEC+ oil is likely to be around 1 million bpd in real terms, which will keep inventories low for longer. The eventual market impact will depend on the duration of the agreement, as OPEC+ decides to extend its declaration of cooperation until the end of 2023.

Yesterday, U.S. President Biden told the "OPEC+" production cut news that OPEC+ production cuts were unnecessary, and he was disappointed by this short-sighted decision.

On the same day, the White House statement pointed out that the supply cuts will hit countries "already reeling from high oil prices", while the global economy is being affected by the continued negative impact of the conflict between Russia and Ukraine. Gasoline is reported to be in short supply in France, and although French government spokesman Olivier Veran acknowledged "the current situation is tense", he said there was no shortage of gasoline inventories across the country. But from the perspective of market analysis, this kind of advice is not only useless, but actually encourages panic buying

Compared with before the festival, the price difference of polyester has reached as much as 400!

The price of polyester is closely related to crude oil. Affected by the news of "OPEC+" production cuts, the price of POY has risen four times in a row to 200 since the 4th, and the discount has been reduced by 200, which is about 400 before the holiday.

This may be a good news for many loss-making chemical fiber factories, but for the majority of textile factory owners, it is even worse for the already poor life. Hesitating whether to continue in the future In the rising market, go ashore ahead of time to lock the price of raw materials; or continue to wait for the arrival of the order, while watching the fluctuation of polyester price and suffering, really doing flour business, with the heart of selling white flour.

Taking into account that inflation will continue to intensify in the short term, it is already unimaginable to return to the past grand occasion this year. This year, the polarization is serious, and there is no shortage of some textile bosses who are unable to make orders or even push orders. but more generally