The battle against plastic waste will significantly reduce the demand for oil

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The results of the fight against plastic waste in the world will have a greater impact on oil and gas companies than expected, the Financial Times writes. In cafes and restaurants, they no longer use plastic straws. Many countries have already passed laws prohibiting the use of disposable packages. According to the estimates of the International Energy Agency, the share of petrochemicals in the global demand for oil will increase to 50% from the current 15% by 2040, which will make petrochemical enterprises the main sources of demand for oil. Packaging materials in the world account for 45% of all plastic produced and only 7% for electronics. Given the increasing opposition to the use of packaging plastic materials, the IEA's predictions of high consumption of plastics in the future become untenable. The growth of plastic consumption in the next 2 decades may slow down, significantly reducing the demand for oil.

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