Platts report that the European spot price on methanol is expected to stay around 300 €/mt for the next three year. The price is due to additional global supply and the low oil price according to a source at  the annual meeting of the European Petrochemical Association in Berlin Monday.

"It will stay at around Eur300/mt for the next three years as long as US product is cheap and tracks the levels of oil production from Saudi Arabia [the high oil production levels that were contributing to current low oil prices] there's no reason to see a higher price," a producer source said to Platts. 

Read the article on Platts.com [Direct link]