Saudi Arabia refrains from freezing output without Iran
"If all countries agree to freeze production, we’re ready. If there is anyone that decides to raise their production, then we will not reject any opportunity that knocks on our door,” reported Mohammed bin Salman in an interview with Bloomberg.
However, Iran seems to be determined to increase their oil output at least until they reach pre-sanction levels. According to the International Energy Agency (IEA), Iran’s oil production rose to a four-year high of 3.22 million barrels oil per day (bpd) in February. Iran’s Oil Minister, meanwhile, reported that Iran’s oil and gas condensate exports rose by 250,000 bpd in March, surpassing 2 million bpd.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East
- Polymer demand cools in Turkey: Is price correction ahead for PP, PE and PVC?
- China’s rising PET trend takes a pause, but longer-term outlook remains firm
- Uptrend in China’s import PP market continues but cautious mood returns
- Hikes in Asia July PVC offers baffle some buyers, further rally under discussion