It should be noted that an international treaty intended to combat plastic pollution, in particular through a reduction in production at the global level, is still being negotiated, after the failure of the last session of talks held on November 25 to December 1, in Busan, South Korea…
Supported by this appetite for plastics, global oil production will increase faster than consumption in 2025, despite the stabilization efforts of several OPEC countries, according to the IEA relayed by AFP.
Plastics vs fuels
Thus, eight member countries of OPEC+ (Organization of the Petroleum Exporting Countries and its allies), including Saudi Arabia and Russia, decided last week to extend voluntary production reductions until the end of March 2025. 2.2 million barrels per day. Global production will nevertheless have increased by 630,000 barrels per day (mbd) in 2024, and is expected to increase by 1.9 million in 2025 to 104.8 mbd, according to Agency forecasts which take into account the entire production world, including non-OPEC countries.
Demand for transport fuels will, on the other hand, continue “to be limited by changes in consumer behavior and technological developments”, indicates the IEA.
