Episode 1338: Think Tank: Oversupply will push oil prices down, boost chemicals
As demand for transport falters, and with the Middle East fighting for market share, crude oil pr...
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Show Notes
As demand for transport falters, and with the Middle East fighting for market share, crude oil prices may continue their downward spiral, eventually boosting chemicals demand.
- Low oil prices put money into consumers’ pockets
- Petrochemicals demand will eventually benefit from lower oil prices
- Destocking down value chains initially masks demand boost
- But trade war will likely dampen global economy, chemicals demand
- China’s move to electric vehicles will reduce crude oil demand
- Oversupply means oil price decline likely to continue
- Trade war, demand trends will drive changes in China petrochemicals