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Saudi SABIC's CEO says oil price decline is temporary

2014-10-26 10:35:41| Chemicals - Topix.net

The recent decline in global oil prices will prove temporary even if it lasts a year or so, since population growth will ultimately bring higher consumption and prices, the chief executive of Saudi Basic Industries Corp said on Sunday. Mohamed al-Mady was speaking to reporters after the company, one of the world's largest petrochemicals groups and the Gulf's largest listed company, reported a 4.5 percent drop in third-quarter net income, missing analysts' forecasts.

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Category:Chemicals

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