Saudi Arabia, the world’s largest oil producer, now seems to be moving to Phase 2 of its efforts to achieve a $75 – $100bbl price range. As the blog noted in early December, the Saudis’ initial tactic was to play ‘hardball’ within OPEC. The aim was to ensure that other countries did not try to […]
Tag Archives | gasoline demand
A blog reader has kindly pointed out the potential impact of GM’s new Volt car on the chemical industry. The Volt will have an operating range of 40 miles (64km), when it becomes available in 2010. According to GM, it will enable 75% of America’s daily commuter journeys to take place without using gasoline. And […]
Yesterday’s US government data on gasoline consumption gives the clearest picture yet of what is happening to US demand. The data compares the 4 weeks covering the July 4 Independence Day weekend, with the same period last year. And it shows gasoline demand was down just 2.1%, even though oil prices have doubled since last […]
China’s ethylene and propylene imports have surged in recent months, as the country has diverted naphtha to supply gasoline and diesel needs. ICIS news, reporting official China Customs figures, says 2007 ethylene imports were over 400% higher at 510KT, versus just 117KT in 2006. Ethylene exports also more than halved to 50KT in 2007, from […]
OPEC are sounding a note of concern about the impact of high oil prices on the world economy. Hasan Qabazar, OPEC’s chief economist said yesterday ‘We are trying, hopefully, to reduce high oil prices, to have prices that are more conducive to economic development’. Qabazar also emphasised OPEC’s desire to help counter any impact from […]
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Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry.
The aim of this blog is to share ideas about the influences that may shape the chemical industry over the next 12 – 18 months. It will try to look behind today’s headlines, to understand what may happen next in important issues such as oil prices, economic growth and the environment. We may also have some fun, investigating a few of the more offbeat events that take place from time to time. Please do join me and share your thoughts.
Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.