Abstract: To study the differences ofpetrochemical industry between China and America,we review on the development of petrochemical industry in 2017,and analyze the factors which can impact oil-production industry,oil-service industry,oil refining and chemical industry,storage transportation and sales industry,and integration company in 2017. We find that the petrochemical industry of America are highly integrated and oil giants make outstanding performance. Finally,we make a prediction of the outlook of China's petrochemical industry in 2018:under the trend of international oil prices rising slightly,oil-production industry will benefit directly and increase profits; Oil-service industry will be under pressure and be difficult to break through the dilemma; Oil refining and chemical industry will remain profitable; The performance of storage transportation and sales industry may be less flexible; Driven by business structure optimization and upgrading,integration company's performance will maintain steady growth.