(chemmonitor) -- Petchem and polyolefins producers using naphtha and based in Europe and Northeast Asia witnessed a decrease of revenues in Q4 of the previous year.
Producers started to lose margins in Q3, but a larger decrease was observed in October-December.
The situation partially resulted from a high destocking activity towards the end of the year. The overall economic instability and a cautious behaviour of buyers on the back of a bleak economic outlook also impacted the situation.