TOBOLSK (Pakistan Point News / Sputnik - 01st December, 2020) Global oil demand will grow by only 1 percent annually in the next five years, and then will decline by 0.1 percent per year, in this regard, it is very promising to develop petrochemical industry, Russian President Vladimir Putin said on Tuesday.
"This is very promising. I think that everyone present at the meeting understands this very well. The expected average annual growth rate of global demand [for petrochemical products] is somewhere under 4 percent. And in the next five years, the demand for oil will grow just 1 percent. And then there will be a general decline by 0.1 [percent]," Putin said at a meeting on the strategic development of the petrochemical industry.
