Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 14 October.

EPCA 22: INSIGHT: Europe BDO costs bite and demand concerns grip the market
BERLIN (ICIS)–Uncertainty reigns in the European butanediol (BDO) market, with local sellers hit by potential market changing costs, and demand looking to fall off a cliff from November.

Europe could still avoid deep downturn but energy crisis ‘not transitory’ – IMF
The strength of labour markets in some European countries could help the region avoid a deep downturn but the energy crisis is set to make the upcoming two winters a difficult period, the International Monetary Fund (IMF) said on Tuesday.

Crude demand to fall in winter, petchems activity in Asia supportive – OPEC
Risks to the global economy are “skewed to the downside” in coming months but demand for petrochemicals feedstocks will remain strong in countries such as China and South Korea, crude-oil producing cartel OPEC said on Wednesday.

Higher oil prices from OPEC+ output cut may be ‘tipping point’ for global economy – IEA
Higher crude oil prices caused by OPEC+’s output cut may “prove the tipping point” for a global economy already on the brink of recession, the International Energy Agency (IEA) said on Thursday.

Industrial action continues at French refineries, government warns of worker requisitions
Industrial action is continuing at refineries across France as the government moves to order some employees back to work and warns of further requisitions ahead.

EU chemicals sector retains trade surplus in Jan-Aug, bucking wider deficit trend
The trade balance for chemicals shrank year on year in the EU between January and August, according to the latest data from the EU’s statistical agency Eurostat on Friday.