The war on single-use plastics could cut demand for oil faster than previously expected over the next two decades, BP has warned. The oil major predicted a peak in global oil demand for the first time last year, and in its latest outlook report warned that a crackdown on plastic waste, which is made from fossil fuels, could play a role in slowing oil demand. BP expects demand for oil to rise 0.3pc a year before plateauing in the 2030s. The “much slower” growth forecast is well below what BP predicted even two years ago. Last year, its central forecast scenario predicted the world’s appetite for crude would grow by 0.5pc a year through the next decades before peaking in the late 2030s. This was down from growth predictions of 0.7pc a year between 2015 and 2035 in its 2017 report. Bob Dudley, BP chief executive, said the report […]