Crude oil price - where is the bottom?

We believe that oil prices will recover slowly during 2016 and 2017, with price volatility remaining a key feature of the oils market. Petrochemical producers must be prepared to act quickly to adapt to the changes in feedstock prices and availability.

Much of the petrochemical feedstock in Asia is liquid based mostly LPG and naphtha and hence directly linked to dynamics in the oils market, which is currently fraught with uncertainties. Competition for crude oil market share and excess supply are keeping a lid on oil prices. Oil demand growth of about 1.1 Mb/d in 2016 and 0.9 Mb/d in 2017 is not sufficient to rebalance the market on its own.

Hear Sushant Gupta, Research Director, Refining and Chemicals, Asia Pacific, talk about the oil price and its impact downstream in the third of our updates in preparation for 

Sushant will be speaking on Crude oil price – where is the bottom? at the General Matters and Raw Materials session on Friday, 20 May 2016 at 3:10pm.

His presentation picks up the themes of YJ Kim's polyester market update last week and Steve Jenkins' presentation on the paraxylene enigma.Steve and YJ will be presenting in more detail at our upcoming Asia Polyester, Nylon and Feedstocks conference to register to attend contact

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