DUBAI (ICIS)--Slumping crude prices have been taking their toll on
trading of petrochemicals in the Middle East, causing product values to
tumble steadily and market players to become overly cautious, industry
sources said on Friday. SEE MORE Local fuel trading companies again are waiting for a decision from
administering agencies to announce further retail price cuts as they are
making good profits from VND300-750 from each liter of fuel sold. SEE MORE Brent and West Texas Intermediate headed for their first weekly advance
since September as analysts remain divided on whether OPEC will cut
production to support prices that are in a bear market. SEE MORE Vietnam’s state asset management company will use its own valuations
instead of inflated book values to buy bad debt from banks by the end of
next month to accelerate a revamp of the financial system and revive
lending. SEE MORE Just 10 years ago, then BP CEO John Browne shocked the oil industry by
suggesting that oil prices might “temporarily” rise to $40/bbl due to an
imbalance of supply and demand, before falling back below $35/bbl
again. SEE MORE