Gulf Oil and Gas accountACCOUNT

Middle East Oil Demand in April 2012

Source: OPEC 4/27/2012, Location: Middle East

Winter-time is low season for electricity demand in Saudi Arabia; hence, oil demand was down dramatically. Both fuel and crude oil consumption by power plants declined by 170 thousand barrels a day (tb/d) in February y-o-y. This decreased total oil-usage by 5.8% in the same month. Iran, the second-largest oil-consuming country in the Middle East after Saudi Arabia, maintained the same level of oil consumption in February. Following many months of decline, gasoline demand grew strongly in February, adding another 0.07 mb/d to total oil demand. Iranian oil demand averaged 1.5 mb/d during that month. Middle East oil demand is forecast to grow by 2.4%, averaging 7.6 mb/d in 2012.

Strong gasoline consumption hiked Brazilian oil demand by 6% in January y-o-y. Gasoline demand grew by 23%, adding another 116 tb/d to the country’s total oil demand pool. This increase in the country’s oil demand came about despite the massive slide in petroleum alcohol usage for fuel. Developing countries’ oil demand growth is forecast at 0.6 mb/d y-o-y to average 28.2 mb/d in 2012.

Financials and Investment News in Saudi Arabia >>

Brazil >>  4/17/2019 - Petrobras has received correspondence from Caixa Economica Federal ("Caixa") informing that it is studying the possibility of selling shares that they...
Botswana >>  4/16/2019 - Tlou Energy Limited is pleased to confirm that it has successfully completed an equity placement to Sophisticated Investors totalling BWP21.8 million ...

Egypt >>  4/16/2019 - A finance ministry report on Egypt’s new budget (2019/20) showed that fuel subsidies will be reduced by EGP 36.112 billion (40 percent) in the new fis...
Ecuador >>  4/15/2019 - The Supreme Court of the Netherlands has ruled in favor of Chevron Corporation, rejecting the Republic of Ecuador’s attempts to annul decisions of an ...

United Kingdom >>  4/15/2019 - MX Oil plc, an oil and gas investing company quoted on AIM, announces the following corporate update: ...
Australia >>  4/12/2019 - Japan Oil, Gas and Metals National Corporation (JOGMEC) announced that it will provide equity financing to INPEX Offshore Timor-Leste, Ltd. (INPEX Off...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 |

More News

Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.