Gulf Oil and Gas accountACCOUNT

Argentina Oil Demand - October 2017

Source: OPEC 11/7/2017, Location: South America

Share |
Oil consumption in Argentina was flat during the month of July 2017 at 0.72 mb/d, with mixed product performance. All transportation fuels were in positive territory with the exception of diesel oil. Jet/kerosene and gasoline increased by around 17% and 4% y-o-y respectively. Conversely, fuel oil recorded a drop of 15% y-o-y.

Looking forward, the risks for 2017 for Latin America are currently balanced with a projection for economic improvement by the major consuming nation of the region, Brazil, which is anticipated to promote government spending. The continuation of lower oil prices as well as unusual weather conditions should also support for oil demand growth. Conversely, deteriorating economic conditions elsewhere in the region should cap oil requirements.

In 2018, projections are largely dependent on possible improvements for the overall economy of the region, oil demand should also improve as a result, and the low baseline of comparison this year should provide additional support. In terms of products, diesel oil and gasoline will have higher growth potential and are expected to fuel the industrial and transportation sectors.

Latin American oil demand is anticipated to increase by 47 tb/d in 2017. During 2018, oil demand growth is forecast to be higher than 2017, recording growth of 85 tb/d.

Oil News in Argentina >>

Guyana >>  1/18/2018 - Eco (Atlantic) Oil & Gas Ltd. (ECO), the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, anno...
Brazil >>  1/15/2018 - Petrobras and Total announce today that they have finalized a decisive milestone in the realization of their Strategic Alliance, signed in March 2017,...

Peru >>  1/10/2018 - Karoon Gas Australia Ltd (KAR) is pleased to announce the farm-out of a 35% interest in offshore exploration Block Z-38, Tumbes Basin Peru to Tullow P...
Brazil >>  1/2/2018 - DOF Subsea has been awarded two new ROV contracts by Petrobras in Brazil for ROVs to be installed on board Skandi Angra and Skandi Paraty. The new con...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Argentina Oil & Gas 1 >>  2 | 3 | 4 |

More News

 

Oil & Gas Companies in Argentina >>


Related Links

Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Privacy Policy.