The petrochemical world to come in the next two decades will continue to be dependent on crude oil, with consumption projected to rise by 40% to 16m bbl/day in 2040, while global overcapacities in polymers are to haunt the industry in the short term, according to the petrochemical analyst at the International Energy Agency (IEA). SEE MORE China’s acetic acid prices are expected to be on a stable-to-firm trend for the rest of the month, backed by tight availability of spot domestic cargoes amid strong demand. SEE MORE A World Bank official on Tuesday called on the petrochemicals industry to embrace carbon pricing as a way to fight climate change. SEE MORE The supply surge from U.S. shale oil and gas will beat the biggest gains seen in the history of the industry, the International Energy Agency predicted. SEE MORE 100 percent foreign-owned filling stations and the sale of a stake in petroleum companies by the state have not been enough to create a competitive petroleum market. SEE MORE