In the cosmetic industry, plastic packaging products have the closest relationship with petroleum. The decline in crude oil prices will first affect asphalt, fuel oil, PTA, PP (polypropylene), PE (polyethylene), ethylene glycol and other chemical products. Among them, PP and PE are widely used in cosmetic packaging materials. As the price of crude oil futures falls, the price of related plastic products will definitely fall. "According to past experience, the price trend of crude oil is positively related to the price of plastic-related products.

The influence of crude oil on cosmetic industry is not only reflected in packaging materials, but also in cosmetic raw materials. In addition to plant extracts and other ingredients, most cosmetic raw materials are related to petroleum or its derivatives and compositions. Such as butanediol, glycerol, carbomer, tromethamine, mineral oil, propylene glycol, wax, etc.

The impact of the oil crisis on other aspects

First of all, the crisis has triggered long-term structural changes in the world energy market, forcing major importing countries to actively seek alternative energy sources and develop energy-saving technologies. For example, high gasoline prices have prompted manufacturers to introduce more energy-efficient cars: the average mileage per gallon of American cars in 1990 has increased by 40% compared with 1973.

On the other hand, it has stimulated the growth of oil production in non-OPEC countries and improved productivity. The share of the Organization of Petroleum Exporting Countries has gradually decreased from the initial 80% to about 40%.

However, because it often takes a long time to innovate products and find alternative energy sources, high oil prices remain the main risk of economic growth.