Petrochemical prices likely to plunge in Saudi Arabia in 2009

27-Jan-09
The current plunge in petrochemical prices is expected to continue through this year, make a marginal rebound next year, and fully recover by 2011 in Saudi Arabia. It is estimated that the industry will regain its position after passing over the current turbulent period in 2011, as discussed in "Future of Saudi Petrochemicals in the Wake of the Global Financial Crisis". Saudi petrochemical products are expected to suffer a huge fall in prices this year, but a recovery could begin next year. The magnitude of the crisis is unpredictable since the prices of petrochemical products are plummeting worldwide. The region's ethylene production will witness a quantum growth.
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