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Be Very Careful Of the $60-70 Oil “New Normal”

By John Richardson

THERE is an argument being made that the recent stability in oil prices will continue as crude enters a “New Normal” of $60-70 a barrel.

This type of thinking seems to have had an effect on petrochemicals …

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China Peak Steel And Chemicals Demand May Have Arrived

By John Richardson

EVERYONE involved in the iron ore business must be very worried about the recent speech by the new chairman of the China Iron & Steel Association.

“Under the ‘new normal’ China’s iron and steel consumption has already …

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Stand Back And Think: Can This Oil-Price Rally Really Last?

By John Richardson

THE talk in oil markets right now is largely about falling US rig counts and how this has resulted in tighter supply.

But it is very important to note that this focus on the rig count is …

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A Perfect World? If Only It Were So

By John Richardson

IN A perfect world everything always turns out for the best in the end.

And so quite a few people who argued that high oil prices were good for the global economy, as they said that expensive …

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Global Economy: “When Elephants Fight, The Grass Suffers”

HERE are some very disturbing statistics:…

Over the last five years, US oil and gas companies have issued bonds and taken out loans that are together worth $1.2 trillion, according to data from Dealogic. This has created at least 200,000

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Take Stock And Plan For the Post-New Year China

By John Richardson

NOBODY involved in the Asian chemicals industry is likely to have been surprised by Saturday’s announcement that January’s official purchasing managers’ index (PMI) slipped into negative territory for the first time in more than two years.

The …

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Friday’s Oil-Price Surge: Here Is The Right Context

By John Richardson

THE right historical context is crucial if you want to gain a real understanding of today’s oil market.

It is, for example, crucial that you put Friday’s 8% surge in oil prices into this correct context.

This …

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Don’t Bet On A Post-Lunar New Year Rebound

 

By John Richardson

THERE is a very risky theory that I have picked up in my conversations with Asian polyolefin industry players over the past few days:

Strong underlying demand growth in China, low stock levels held by the …

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China Versus The EU: What A Contrast

By John Richardson

IT is worth comparing what is happening in China today with what is happening in the EU.

First of all, in China we are seeing:…

A political leadership that has been honest enough to admit that China

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New Silk Road Part 2: How China Will Win

Here is the second part of my thinking on what China’s New Silk Road means for the global chemicals industry. Part One appeared last Thursday.

 

By John Richardson

PER capital GDP in Yunnan province in China’s southwest was just …

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