Middle East Oil Demand in June 2013

Source: OPEC 7/1/2013, Location: Middle East

In Saudi Arabia, the available data for the first four months of 2013 indicate that oil demand has been strongly increasing by 5.1% y-o-y. This growth has been driven by healthy economic activities. On a sectorial basis, the industrial, transportation and petrochemical sectors saw the bulk of the increase, while relatively mild weather implied less direct crude burning.

Similarly, strong oil demand in 1Q13 has been observed in Qatar, as oil consumption there rose substantially with the bulk originating in the aviation sector. Saudi Arabia alone accounts for more than one-third of all Middle East oil consumption, and if the weather were to turn out warmer, additional direct crude burning would be required to cover the necessary increase in air conditioning usage. Hence, the outlook for 2013 Middle East oil demand has been once more slightly revised up since last month’s projections and its risk remains skewed to the upside.

For 2012, Middle East oil demand grew by 0.25 mb/d. In 2013, oil demand growth is projected to increase further to 0.31 mb/d.


Australia >>  6/30/2022 - • Oil lifting commencing today with record revenues anticipated
• Seismic and well testing operations delayed
• Battmin drilling program t...

Brazil >>  6/17/2022 - Petrobras, regarding the news published in the media, clarifies that by request of the Chairman of the Board of Directors, its Board of Directors held...

Canada >>  6/16/2022 - PetroTal Corp. is pleased to announce the following sales related update.

720,000 barrels of oil under contract for export from Bayovar. Ap...

United States >>  6/15/2022 - ExxonMobil released the following statement in response to a letter from President Biden.

We have been in regular contact with the adminis...


Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.