Gulf Oil and Gas accountACCOUNT

Kuwait and UAE Oil Demand - November 2017

Source: OPEC 11/29/2017, Location: Middle East

Share |
Oil requirements also increased in Kuwait and the UAE by 3% and 2%, respectively, y-o-y as growth in the transportation fuels appeared to be the main source of support in both countries.

Going forward, expectations for the remainder of 2017 appear to be slightly tilted to the downside as the high level of substitution as well as slower economic indicators weigh on demand growth potential in the region.

In 2018, oil demand growth is expected to gain momentum over the levels experienced in the current year, mainly as a result of assumed improvements in the economy. On the other hand, geopolitical concerns as well as a high level of substitution are assumed to contribute negatively to demand growth in 2018.

For 2017, Middle East oil demand is expected to rise by 96 tb/d, while oil demand in 2018 is projected to increase by similar levels to 2017.

Oil News in Kuwait >>

Saudi Arabia >>  12/11/2017 - Saudi Arabia, the world’s top oil exporter, will supply full contractual volumes of crude to five North Asian refiners in January, unchanged from the ...
Iraq >>  12/6/2017 - The head of Iraq’s state oil marketer SOMO is currently holding talks in Iran to determine a start date for oil exports from Iraq’s Kirkuk oilfields, ...

Kuwait >>  11/29/2017 - Oil requirements also increased in Kuwait and the UAE by 3% and 2%, respectively, y-o-y as growth in the transportation fuels appeared to be the main ...
Austria >>  11/21/2017 - Non-OPEC supply in 2018 was revised down by 94 tb/d compared to last month’s analysis to average 58.54 mb/d, and now is expected to grow at a slower p...

Iran >>  11/21/2017 - Iran’s oil minister said on Monday that a majority of OPEC members support extending output cuts but a final decision will be taken at their next meet...
India >>  11/20/2017 - In September, India’s crude imports dropped from a month earlier by a slight 22 tb/d, to average 4.3 mb/d. Y-o-y, crude imports reflect a drop of 57 t...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Kuwait Oil & Gas 1 >>  2 | 3 | 4 | 5 |

More News

 

Oil & Gas Companies in Kuwait >>


Related Links

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