Output freeze to be discussed at next OPEC meeting
Oil producing nations had discussed a possible outpur freeze at their last meeting on April 17 in Doha, Qatar, although no agreement was reached as Saudi Arabia insisted on participation of all OPEC members, including Iran, in any output freeze deal. A preliminary deal on freezing output at January levels was signed between Russia, Saudi Arabia, Qatar and Venezuela in February, which helped oil prices to recover from a 12 year-low.
Nigeria’s oil minister told that they are going to attend talks with Saudi Arabia, Iran and other producers in May, adding that they remain hopeful about reaching an agreement in June.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Turkey’s PE market on brink of new drops for December
- Signs of optimism in China PP and PE markets, but caution remains
- Egypt’s import PP, PE markets flat but domestic prices turn upwards in Nov
- PVC downturn enters 7th month, prices still far from pre-pandemic levels in Europe
- Aggressive US PE offers make a scene across global markets in Q4 after a hiatus of 2 years
- SEA cracker outages and lack of deep-sea cargoes underpin olefin prices in Asia
- US origin hammers import PVC prices into Asia
- China PE markets stay bearish with import prices below new thresholds
- Oil producers boast record Q3 earnings but chemical margins under pressure
- Aggressive imports, long supplies weigh on Europe’s ABS markets