The petrochemical sector is struggling with weakening demand, overcapacity and a global pivot towards cleaner energy, analysts point out.    SINGAPORE: ExxonMobil’s decision to cut up to 500 jobs in Singapore signals wider industry challenges from declining demand and rising supply, analysts said. The US energy giant on Wednesday (Oct 1) said it plans to reduce 10 to 15 per cent of its workforce in Singapore by end-2027, calling it a move to improve competitiveness in an “ever-evolving