據道瓊斯10月8日消息，當油價上漲時，大型石油公司自然會感到高興，但埃克森美孚的未來似乎與油價上漲關系更大，這是出于另一個原因，即該公司的化學品業務。

油價上漲對埃克森美孚這樣在北美和中東業務更多的石化生產商有利，因為這些生產商以天然氣液體為原料生產產品，油價上漲使其產品更具競爭力。與亞洲和歐洲使用石油或石腦油為原料的設施不同，美國和中東的石化工廠傾向于使用天然氣液體。截至2019年，埃克森美孚60%以上的化學品產能位于北美和沙特。

在能源行業的其他大多數領域都看起來處境艱難的一年里，埃克森美孚的化學品業務似乎是一個潛在的亮點。油價回升可能會給該業務帶來額外的提振。

張春曉 摘譯自 道瓊斯

原文如下：

Exxon Could Get a Chemical Turbo Boost if Oil Rebounds

Big Oil naturally is delighted when oil prices rise, but Exxon Mobil's future seems even more tightly wound to it for an additional reason: its chemicals business.

Higher crude prices are good for petrochemical producers weighted more heavily toward North America and the Middle East -- such as Exxon -- because those gains make their products based on natural-gas liquids more competitive. Unlike facilities in Asia and Europe that use oil- or naphtha-based feedstock, U.S. and Middle Eastern petrochemical plants tend to use natural-gas liquids. More than 60% of Exxon's chemicals production capacity was located in North America and Saudi Arabia as of 2019.

In a year where most other energy-industry segments look grim, Exxon's chemicals business looks like a potential bright spot. An oil-price recovery could supercharge it.