Saudi Chemical Giant Warns of Challenges After Surprise Loss

Saudi Arabia’s biggest chemicals company warned of more uncertainty this year, signaling further pressure on its finances after reporting a surprise quarterly loss.

“Challenges remain ongoing, with rising supply levels at the forefront impacting product prices overall,” Saudi Basic Industries Corp. Chief Executive Officer Abdulrahman Al-Fageeh said. “Additionally, the continued geopolitical situation has sustained uncertainty, exposing the industry to further challenges.”