化工行业周报20250316：国际油价震荡，维生素、聚合MDI价格下跌-2025-03-17

Investment Rating - The report rates the chemical industry as "Outperform the Market" [1] Core Views - The report highlights the volatility in international oil prices and the decline in prices for vitamins and polymer MDI [1] - It suggests focusing on potential price increases in agricultural chemicals, textile chemicals, and refrigerants during the peak season in March and April [1] - The report emphasizes the rapid development of downstream industries, recommending attention to electronic materials and new energy materials companies [1] - It notes an overall improvement in macroeconomic expectations, indicating that leading companies in the industry are entering a long-term allocation phase [1] Summary by Sections Industry Dynamics - During the week of March 10-16, 2025, among 101 tracked chemical products, 16 saw price increases, 51 experienced declines, and 34 remained stable [8] - The average price of WTI crude oil was $66.55 per barrel, with a weekly increase of 0.29$69.88 per barrel [1][8] - The report anticipates a decrease in global oil inventories by Q2 2025, with Brent prices expected to rise to around $75 per barrel by Q3 2025 [1] Investment Recommendations - The report recommends focusing on products likely to see price increases in the upcoming peak season, such as agricultural chemicals and textile chemicals [9] - It suggests monitoring the performance of major energy state-owned enterprises and leading companies in the light hydrocracking sub-industry during the annual report season [9] - The report identifies potential growth in electronic materials and new energy materials due to rapid development in downstream industries [9] - It highlights the potential for sustained high oil prices, benefiting the oil and gas extraction sector, and emphasizes the importance of leading companies in the industry [9] Key Stocks to Watch - Recommended stocks include China Petroleum, China National Offshore Oil Corporation, China Petrochemical Corporation, and several technology and chemical companies [9]