Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 4 December.

Europe PE players look to December after ethylene settlement, prices trend down
Polyethylene (PE) players in Europe are digesting the news earlier this week that the December ethylene contract price has decreased by €30/tonne, although signs in the market point to a reduction in the settlement, sources said on Friday.

Long-term crude oil prices unaffected by OPEC output cut – analysts
OPEC’s agreement to cut oil production, as well as the potential that non-OPEC counties will also cut production, will help accelerate market re-balancing and improve chances of a rapid oil recovery, according to sources on Thursday.

November Europe CMCI shows increasing confidence in future conditions
European chemical market confidence has broadly increased in November, according to analysis of the ICIS Chemical Market Confidence Index (CMCI) on Wednesday.

UK plans to boost biofuel use to 9.75% in long-awaited consultation
The UK government published on Tuesday a much-anticipated consultation on strategy for renewable fuels on Tuesday, revealing plans to increase the amount of biofuels to 9.75% by volume in 2020.

GPCA ’16: Consolidation could be key for GCC’s competitiveness
Consolidation could be a key strategy for GCC petrochemical companies in order to remain competitive in the global marketplace, the chairman of the Gulf Petrochemicals and Chemicals Association (GPCA) said on Monday.

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