Saudi petchems firms’ Q3 profits jumped 61% from Q2 on higher sales, but the Q1-3 increase of 26% shows an underlying reliance on crude prices. This comes as the Sabic CEO advises smaller firms to consolidate to combat falling subsidies.

Saudi-listed petrochemicals producers have reported a bumper third quarter, with combined net profits of SR8.81bn ($2.35bn), up 61% on Q2 to record their highest collective quarterly profit since Q3 2014 (see table). At that time crude oil prices were...