In October H1, Mono Ethylene Glycol (MEG) prices declined across the key global markets including USA, Europe and Asian market. This is mainly attributed to the insufficient cost support from the feedstock market and the low demand conditions across the key downstream markets. Prices for the key feedstock Ethylene Oxide remained weak amidst the softness across the upstream crude oil prices. EIA reported the consecutive weakness in the global crude oil prices and the prices for the WTI (west Texas Intermediate) crude oil reached USD 58.30 per barrel on October 17, 2025, from USD 61.65 per barrel on October 3, 2025. This is mainly due to the plan of potential production hike by OPEC+ members in November 2025 and the return of inventory supply addition from Iraq, increasing supply and driving the crude oil price weaker. At the same time, consumption for the MEG across the key downstream PET and Polyester market remained below expectations.
