Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 17 January.

INSIGHT: Trump bump to boost US GDP growth
I am reminded every four years when there is a new US administration of the 1966 Western action movie, “The Good, the Bad and the Ugly” starring Clint Eastwood, Eli Wallach and Lee Van Cleef as the good, the bad and the ugly. It is in this vein that we will review new policies from the incoming administration and their likely impact on the economy and the chemical industry.

Crude buoyed by cold weather, sanctions, China recovery – oil CEO
The rally in crude markets could get continued support from cold weather, sanctions and a recovery in demand from China, the CEO of US crude producer Hess said on Tuesday.

Latest US sanctions could hit Russia oil supply – IEA
The latest tranche of US sanctions on Russia’s oil trade could affect flows from the country, while weather-related production shut-ins in North America could also impact global supply, the International Energy Agency (IEA) said.

2025 chemicals demand outlook highly uncertain on geopolitics – LANXESS CEO
After two years of a severe downturn, the global demand outlook for chemicals in 2025 is extremely uncertain pending geopolitical and policy developments with a new US administration, upcoming elections in Germany and US-China relations, said the CEO of Germany-based specialty chemicals producer LANXESS.

US steadies 2025 growth outlook as Europe struggles – IMF
Global economic growth this year is expected to increase modestly compared to 2024, the International Monetary Fund (IMF) said on Friday, as stronger expectations of US growth offset an increasing bearish outlook for Europe.

INSIGHT: US is adding no new ethylene capacity for first time since 2010
The oversupply of chemicals has caught up with one of the world’s lowest cost producers. In 2025, the US will add no new ethylene capacity, the first time since 2010.

INSIGHT: US tariffs on Canadian oil would harm the US and Canada
US President-elect Donald Trump is expected to quickly move forward with his proposed 25% tariff on all imports, including oil and energy, from Canada and Mexico after taking office on Monday 20 January.