US oil output is expected to grow less than expected in 2017

US oil production is expected to rise 100,000 bbl/day to 8.98 million bbl in 2017, 0.3% less than previously forecast.

SEATTLE (polymers.in):  European Stocks Rise to Two-Week High on Banks, Oil Companies
- The Stoxx Europe 600 Index climbed 0.8% to end the session at the highest since January 26.
- The index is still down 3.1% from its 2017 peak close on January 26. 

US oil output is expected to grow less than expected in 2017
- US oil production is expected to rise 100,000 bbl/day to 8.98 million bbl in 2017, 0.3% less than previously forecast. 

Feedstock (Ethane, Ethylene, Propane, Propylene, PX, PTA, MEG, EDC, VCM)
Northeast Asia-Southeast Asia ethylene price spread at all time
- The spread between Northeast Asia and Southeast Asia ethylene prices widened by USD 30/MT day on day to hit a record high of plus USD 175/MT.
- CFR Northeast Asia ethylene price marker rose USD 30/MT day on day to assessed at USD 1270/MT.

- CFR Southeast Asia price marker was assessed unchanged at USD 1095/MT over the same period. 

US propylene inventories decrease for sixth straight week
- US propylene inventories fell by 7.2% in the week ending 3 February.
- Stockpiles remain 13% higher year on year, with levels at 3.139 million bbl in the week ending on 5 February 2016.

Polymers Price
Low density polyethylene price climb curbed by supply rise
- LDPE prices have risen 3% on the month to be assessed Wednesday at EUR 1335/MT. 

Intl. Prices 
- Brent Crude Oil USD 55.41
- Propylene USD 940 CFR China
- Ethylene USD 1275 CFR NEA
- Naphtha USD 515 CFR Japan
- Styrene USD 1485 CFR China

Polymers Supply
China PE import offers spike on post-holiday restocking
- China’s general import HDPE film grade stood at USD 1160 - 1190/MT CFR China.
- LLDPE film grade stood at USD 1140 - 1190/MT CFR China.

Courtesy: www.polymers.io

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