TEHRAN, Iran, June 6
Trend:
Prices for Iran's petrochemical products have decreased by 15-20 percent due to the fall of global demand and the oil price drop, said a board member of the National Iranian Petrochemical Company (NIPC) Abdolhossein Bayat.
"Although there is no problem in terms of the export of petrochemical products and coronavirus spread has not created any obstacle, the drop of global demand and oil price collapse affected the prices," said Bayat, Trend reports citing ILNA.
He pointed out that the tonnage of the exported petrochemical products has not changed, but Iran saw a decrease in foreign currency revenues from exports. "However, inauguration of several projects by the end of current Iranian year (started March 20,2020) will increase the export."
Bayat went on to add that the production in petrochemical complexes has not been reduced and there is no overload of products in warehouses or reservoirs. "I don't think any problem will occur in this regard."
He believes that the world will gradually overcome the coronavirus crisis and the global demand will recover, thereby raising the prices.
"It is expected that the price for petrochemical products will increase in the second half of the year, since with the implementation of the OPEC+ decision the oil price has already started recovering," he said.