Sunday Executive Summary
We enter 2024 with arguably more geopolitical risk than we had a year ago – China is still less predictable, support for Ukraine is eroding
December 31, 2023
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We enter 2024 with arguably more geopolitical risk than we had a year ago – China is still less predictable, support for Ukraine is eroding
Behavior will determine the fate of the global ethylene market in 2024, as the overcapacity may be worse than in 2H 2023, and how producers
A year ago, we predicted China would be the most significant cause of uncertainty and risk in 2023. In the basic chemical industry and many
We characterized 2022 as the year in which the world woke up to the extraordinary need for renewable power – as the enabling step in
On average, global polymer and monomer prices fell MoM, with feedstock cost variances being the chief determinant of margin differences – US producers have benefited
Recent crude oil and Ex-US naphtha price strength suggest downstream refined product and chemical price support that benefits North American producers relative to Europe and
While we see many reasons why some segments of energy transition investment could disappoint in 2024, renewable fuels, especially SAF, is not one of them.
The price of manufactured goods in the US faces downward pressure into year-end amid lower global input costs – crude oil price strength is a
China has imported ~20% more discounted Russian crude oil YTD in 2023 compared to 2022, a benefit to its global petrochemical production cost position and
Falling mortgage rates and loosening but still tight domestic home supply are spurring housing market activity that could extend into 2024 and prove constructive for
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