The change in price spread could bring opportunities to producers to adjust production

The change in price spread could bring opportunities to producers to adjust production. As naphtha or MX in particular, could be used as blending component or to produce PX (blending with light naphtha, and reforming with heavy naphtha), refineries may reduce MX for blending and use it to produce PX instead.

PX-MX spread is hovering at relatively high side recently, reflecting that PX producers based on merchant feedstock MX can also make good profits