China Methanol Market Ushered in a Good Start
During the Chinese New Year holiday, international crude oil prices went up, exceeding $60/bbl and reaching a one-year high. Crude oil prices are expected to remain relatively high in the near term due to improving supply and demand expectations in the oil market due to recent voluntary production cuts in Saudi Arabia, faster rollout of the COVID-19 vaccine, and reduced production in the United States. The rise of oil prices has undoubtedly boosted the mentality of the chemical market, benefiting the rise of methanol prices.
