LyondellBasell Industries N.V. (NYSE:LYB) Q2 2023 Earnings Call Transcript

Ken Lane: I completely agree with that. And like I had mentioned before, there will be headwinds with this capacity coming on. There always is. But the capacity comes on one time and then you feel it and the market will adjust to that. I also said earlier, we’re seeing some strength in some of the export markets, especially going south. So we’re starting to see some growth in some markets like Brazil that’s going to help absorb some of that capacity. So I’m not any more concerned about it now than I was 6 months ago. Southeast Asia is even looking a little bit better. We’ve seen that trend over the last couple of months. So the markets are going to absorb it over time. And like Peter said and Michael had said, we’ll adjust our operating rates to optimize cash.

Operator: Thank you. Ladies and gentlemen, that concludes our time allowed for questions. I’ll turn the floor back to Mr. Vanacker for any final comments.

Peter Vanacker : Okay. Thank you very much. As usual, very thoughtful questions. We’re looking forward to sharing the updates on our progress towards unlocking additional value, of course, over the coming months and we wish you all a great weekend. And as usual, stay safe. Thank you very much.

Operator: Thank you. This concludes today’s conference call. You may disconnect your lines at this time. Thank you for your participation.