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 >>

Iraq >>  3/12/2018 - Mr. Jabbar Ali Al-Luiebi the minister of oil ordered to reduce the importation of the oil Derivatives by 25% to save money to the federal budget. ...
Egypt >>  3/1/2018 - Saudi Aramco, the world’s largest oil producer, agreed to supply Egyptian refineries with crude oil for six months, starting January 2018, Egypt’s Pet...

Libya >>  3/1/2018 - PetroChina Co. agreed to an annual contract to buy Libyan crude after similar deals by oil majors like Royal Dutch Shell Plc and BP Plc, underscoring ...
United Arab Emirates >>  2/22/2018 - The Abu Dhabi National Oil Company (ADNOC) has concluded an exclusive agreement with Chemlube S.A., appointing the Switzerland based company as the ex...

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.