The global refining industry is at a crossroads. As the world accelerates its transion toward cleaner energy and more sustainable consumpon paerns, tradional fuel markets are entering a period of structural decline. Gasoline, diesel, and residual fuel oil—once the cornerstones of refinery output—are now facing diminishing demand, parcularly in mature economies. This shi is not merely cyclical; it reflects a deeper transformaon in how energy is produced, consumed, and valued.
In contrast, the petrochemical sector is emerging as a bright spot in an otherwise challenging landscape. Forecasts suggest that global demand for petrochemicals will connue to grow at a rate exceeding 4% annually over the coming decade.
