The turning point came when crude oil rocketed on Nov 23

The turning point came when crude oil rocketed on Nov 23. Previously, with concerns that US would release strategic oil reserves with India, Japan and South Korea, WTI crude oil declined to $75/b. However the specific volume released was not as much as expected, which also stimulated OPEC+ to consider suspension of production increase, and thereby crude oil was pulled up to $78-79/b. Then overnight PSF futures soared. Meeting replenishment demand, the sales ratio of direct-spun PSF rushed up. The average inventory of direct-spun PSF plants also dropped to about one day, easing the pressure.