CHEMICALS OUTLOOK: Global ethylene and MEG set to struggle in H2 2023 amid oversupply, weak demand

Global ethylene markets are expected to finish 2023 on a low amid continued sluggish downstream derivative demand that failed to rebound seasonally during Q2 2023, market sources said. Key downstream packaging markets remain hampered by stuttering demand and fluctuating oil prices that squeeze margins in naphtha-dependent Europe and Asia while the US and Middle East embrace cheaper ethane feedstock price…