International crude oil prices continued to exhibit wide fluctuations last week, with both rises and falls observed. In East China, toluene and xylene prices initially declined before experiencing a limited rebound. The production-to-sales ratio of oil products at Shandong refineries showed slight improvement, leading to a small rebound in the market and a decrease in overall low-priced resources. Currently, downstream demand is mainly rigid, with moderate enthusiasm and a somewhat stagnant state.
Forecast for this week: Pay close attention to external news, especially updates on Russia-Ukraine negotiations and the impact of relevant information conveyed during the two sessions. Monitor changes in supply and demand at refineries and maintain cautious operations.
