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Tag: Sulphur

Sulphur Industry News

At the organisation’s first face to face meeting since covid, in Vienna in early October, OPEC+ ministers agreed to cut global oil supplies by 2 million bbl/d in November. OPEC+ is a group of 24 oil-producing nations, made up of the 14 members of the Organisation of Petroleum Exporting Countries (OPEC), and 10 other non-OPEC members, including Russia. In a statement, the group said the decision to cut production was made “in light of the uncertainty that surrounds the global economic and oil market outlooks.”

Back on the rollercoaster

Sulphur markets suffered a correction in July-August that was more of a collapse; from $500/t to less than $100/t. Though it seems to have been something of an over-correction, and prices have moved back up since then, it is one of the most extreme price swings that sulphur has ever seen, comparable to the peak and precipitous fall in 2008. Indeed, at a time when commodity prices of all kinds have seen extremely high levels of volatility, sulphur has been more volatile still than just about all of them.