European olefins production: could 2020 top 2019 despite coronavirus?
Europe saw 20-year lows in olefins production in 2019. Despite potential demand destruction from coronavirus, 2020 could show a recovery in production, as turnaround schedules lighten, and competitive naphtha prices make Europe’s cracker fleet becomes more competitive. This insight will examine four key drivers to understand the direction of 2020 production - outages, cash costs, trade and the coronavirus. Read on to understand the key drivers in more detail.