Q3 2021 Cosmo Energy Holdings Co Ltd Earnings Net Conference Transcript
Now I would like to start. First, on Page 1, this is the table of contents, which I will follow in my presentation. Going to Page 2, I would like to discuss the impact of COVID-19 pandemic first.
Let me move on to Page 3. As for the impact of COVID-19, as written at the top, there has been no major impact on the company's business continuity. In terms of the impact on markets and demand, there are comments in 3 areas. The first is crude oil price as shown here. The price rose on Saudi Arabia's voluntary production cuts and OPEC+ agreements. Up until recently, the price hovered around USD 50 as written here. And at the moment, Dubai crude oil is around USD 60.
Next is petroleum products. The four-major-product market stayed stable, while the jet fuel market rallied gradually, though domestic demand is slow to recover. The national average up until Q3 was 39%, while the company's figure was 56%, meaning that there was a significant impact in jet fuel. Next is petrochemical products.
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