28 Oil and Petrochemical Listed Firms Issue First-Half Earnings Guidance

As of July 20, 28 listed oil and petrochemical companies had disclosed first-half earnings guidance, with 15 expecting profit growth and five forecasting a turnaround or narrower losses, according to Jiemian News. In the first half, Middle East geopolitical conflict drove up global chemical product prices. Hu'an Securities chemical industry chief analyst Wang Qiangfeng said some products with better competitive positions have already seen a clear improvement in profitability as inventories are worked down, and the sector's fundamentals may improve further in the third quarter on restocking demand.