Global Market Analysis
General Thoughts: Western crude oil refinery and integrated ethylene margins have surged YTD relative to Asia amid an array of outages and logistic issues –
March 7, 2024
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General Thoughts: Western crude oil refinery and integrated ethylene margins have surged YTD relative to Asia amid an array of outages and logistic issues –
Global methanol markets have strengthened compared to YTD lows but are notably lower YoY – we flag the strength in overseas prices relative to the
We understand the reluctance of oil and gas producers to deploy long-term growth capital due to demand uncertainties. But, we question closing a US refinery
2023 is off to a bad start with low margins (but maybe not low enough) and global operating rates reflecting significant oversupply, which could worsen.
Deteriorating consumer health and falling concern with chemical supply will hinder chemical sector equity performance in 1H23 – relative sub-sector bright spots exist.
Specialty chemical
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