Westlake Chemical Cuts Planned Capex as Future Outlook Remains Uncertain

SUGAR LAND--May 5, 2020--Researched by Industrial Info Resources (Sugar Land, Texas)--Petrochemical producer Westlake Chemical (NYSE:WLK) (Houston, Texas) is being cautious with spending as the company faces reduced demand for some products and has lost cost-advantaged feedstock gains for ethylene as the price of oil has declined. The company has cut planned 2020 capital expenditures (capex) from its originally planned $650 million-$700 million to $500 million-$550 million.

Within this article: Details of how the COVID-19 pandemic is affecting Westlake