Energy and Chemical Industry Outlook for 2026 with S&P Global - Ep. 241

Geopolitics, energy volatility, and persistent oversupply are reshaping the global chemical industry as 2025 draws to a close. Victoria Meyer sits down with Kurt Barrow and Andrew Neale from S&P Global to address the forces driving today’s market dynamics, the impact of government policies, and the shifting landscape heading into 2026. They break down how new sanctions, tariffs, and energy transition policies are influencing everything from oil prices and supply chains to chemical production strategies worldwide. 

The episode explores regional strengths and vulnerabilities, with North America, the Middle East, and China taking leading roles amid rationalization and capacity closures in Europe and South Korea. Kurt Barrow and Andrew Neale share insights on how chemical producers are responding to cost shifts, supply chain resets, and evolving consumer demand. The conversation also previewed the upcoming World Petrochemical Conference and CERAWeek, emphasizing the need for industry leaders to stay agile in response to accelerated change, emerging technologies, and global market imbalances. 

 

Victoria, Kurt, and Andrew discuss the following this week: 

•  Why government action, oversupply, and shifting demand are redefining 2025 in the chemical markets.
•  How new sanctions, oil movements, and policy shifts impact feedstocks and chemical production.
•  Real-world examples of how canal disruptions, freight rate swings, and tariffs are reshaping global sourcing.
•  Regional winners and losers as energy prices, assets, and investments shift across Europe, China, and the US.
•  Key strategies for chemical leaders navigating consolidation, energy transition, and market shifts ahead.

 

 

Killer Quote:  "We’ve gone from that globalization to regionalization—that almost helps some of your high cost players very short term...that’s a very near term. How long that lasts if we have another round of tariff movements—European, and we will, but European, I don’t know what it is, but we will in Q2."  —Andrew Neale 

Subscribe to The Chemical Show on YouTube 

 

***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player.
***Like what you hear? Leave a rating and review.
***Want more insights? Sign up for our email list at https://www.thechemicalshow.com 

• (00:01) - - Introduction & Welcome
• (01:31) - - Energy Market Shifts & Government Actions
• (05:27) - - Tariffs, Trade, and Global Uncertainty
• (09:40) - - Chemical Demand and Investment Cycle
• (12:55) - - Feedstock Price Trends & Impact
• (18:09) - - Regional Winners & Losers in Chemicals
• (21:43) - - Deepening Structural Shifts
• (27:52) - - Energy Transition: Progress & Roadblocks
• (33:06) - - Looking Ahead: Preparing for 2026
• (34:48) - - Conferences & Final Remarks