Peter Vanacker on supply shortages
From Why LyondellBasell CEO expects the business cycle to be 'stronger for longer' · · CNBCTelevision
“So many different products are in short supply that eventually that need will need to be met.”
On , Peter Vanacker, Chief Executive Officer & Executive Director at LyondellBasell Industries NV, spoke about supply shortages during Why LyondellBasell CEO expects the business cycle to be 'stronger for longer' on CNBCTelevision.
About Peter Vanacker
In June 2021, LyondellBasell CEO Bob Patel told CNBC that he expected the business environment to be "stronger for longer" due to persistent supply and demand imbalances. Patel stated that his company was "running as hard as we can to meet current demand and we still can't meet it all," and he noted that "so many different products are in short supply that eventually that need will need to be met." He also said that supply chains would need to be restocked at some point. Patel addressed the debate over whether economic pressures were transitory or structural, citing wage increases and prolonged supply shortages. He mentioned that he had heard chip shortages "may not resolve themselves for two more years."