Rising drilling activity fails to support baryte prices
Published: Friday, 02 June 2017
Despite increased drilling activities, oilfield mineral baryte demand remains weak amid global oversupply. Many market participants are expecting trading activities in the Middle East to slow down in June due to Ramadan and Eid festival.
Increasing oilfield activity is doing little to support
baryte prices as demand remains weak in an oversupplied global
Furthermore, imports are expected to slow in Saudi Arabia,
the world’s top baryte importer, during the month
of Ramadan, which started on 26 May. Market participants widely
anticipate that trading conditions...