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Strong petrochemical growth supports oil demand across all long-term scenarios (condensed version)

In 2023, the global economy rebounded post-Covid-19, with China leading robust expansion. As the energy transition reshapes industries, Rystad Energy's analysis highlights imminent shifts in oil consumption trends. Some sectors embrace newer energy forms faster, prompting refiners to reassess strategies. The petrochemical industry, reliant on oil for plastics production, emerges as a pivotal driver of global oil demand growth. Download the latest expert oil commentary for a deep dive into petrochemical growth.