There has been a positive trend in the petrochemical segment in Asian continent. Petrochemical prices remained mixed with rise in crude segment. Easing on lockdown in several countries is likely to boost the demand in the petrochemical segment. In June, the total global supply cuts stood at almost 11 bbl/day, which had helped “bolster the current oil bull run”, Singapore's OCBC Bank said in a research note.For next month, the output cut will be 9.7m bbl/day or 10% of total supply as agreed on 6 June between OPEC and its allies, including Russia. This meant that the group would maintain reduced production levels adopted in May and June.
