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Middle East Oil Demand in December 2011

Source: OPEC 2/20/2012, Location: Middle East

Saudi Arabia is the largest oil-consuming country in the region and also has the highest annual growth. Given its energy-intensive projects, Saudi oil demand grew by more than 0.1 mb/d in 2011. The sectors that consume the most oil are transportation and power plants. This trend is expected to continue throughout the year. Despite declining oil usage in Iran, Middle East oil demand is forecast to grow by 2.4% in 2012. The seasonality that plays a major role in oil consumption in the Middle East occurs during the summer season, pushing third-quarter oil demand higher than in any other quarter of the year.

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