Industry leaders will gather on Tuesday for the Oil & Money conference in London. The event features OPEC secretary general Mohammad Barkindo and the heads of oil majors.
Discussions will be closely watched by the petrochemicals industry, which has enjoyed relative stability following the turmoil after Hurricane Harvey. But is Trump set to shake up the industry once more?
Politics will also be in focus in the European power market, with participants looking for signs of future energy policy direction.
Meanwhile, traders in the carbon market await a date for further negotiations. Another key event this week is the World Steel Association's annual meeting in Brussels, where top executives from major global steel producers convene this week.
Join our conversations on Twitter - use #PlattsMM and connect with us.
Video Transcript
In this week’s highlights: Defining discussions expected at the Oil & Money conference in London and the World Steel Association’s annual meeting in Brussels; European power players seek policy direction; and the EU carbon market reform deal suffers a delay.
Industry leaders will gather on Tuesday for the Oil & Money conference in London. The event features OPEC secretary general Mohammed Barkindo and the heads of oil majors. A senior Iranian trade official will be pressed for his views on US President Trump’s decision to decertify the Iran nuclear deal.
Discussions will be closely watched by the petrochemicals industry, which has enjoyed relative stability following the turmoil after Hurricane Harvey. But is Trump set to shake up the industry once more?
Our social media question this week is: How will President Trump’s stance on Iran affect the crude oil and petrochemicals markets? Tweet us your predictions using the hashtag #PlattsMM.
Politics will also be in focus in the European power market, with participants looking for signs of future energy policy direction. Most notably, a new government is close to formation in the Netherlands, with the new coalition party announcing ambitious energy and climate goals. This includes the introduction of a carbon tax as well as banning coal plants and combustion car sales by 2030. And that’s without the Green Party even being in the coalition.
Also in Europe, traders in the carbon market are awaiting a date for further negotiations after marathon talks between officials from the EU Parliament and Council last Thursday failed to reach a deal on a proposed market overhaul for the period after 2020.
As you can see here, carbon allowance prices had previously strengthened in anticipation of a deal. The reforms include significant supply-tightening measures that are likely to drive prices even higher over the long term.
Another key event this week is the World Steel Association’s annual meeting in Brussels, where top executives from major global steel producers convene this week.
The event, which also marks World Steel’s 50th anniversary, will see industry leaders focus on themes including industry consolidation in Europe, China’s capacity cutbacks and the impact of continuing trade litigation on the continent and abroad. World Steel officials will also release the group’s short-range outlook for global steel production and demand.
Thanks for kicking off your Monday with us and have a great week ahead.