LyondellBasell beats Q1 profit view and expects seasonal demand boost

The chemical maker said low costs for natural gas and natural gas liquids (NGLs) should continue to benefit margins from LyondellBasell's North American and Middle East production in the second-quarter. U.S. gas futures were down about 20.4% during the quarter compared to the corresponding period in 2023.

Petrochemical manufacturer LyondellBasell said on Friday it expects seasonal demand improvements across most of its units in the current quarter after it beat first-quarter profit estimates. The chemical maker said low costs for natural gas and natural gas liquids (NGLs) should continue to benefit margins from LyondellBasell's North American and Middle East production in the second-quarter.