Middle East Oil Demand in July 2012

Source: OPEC 8/1/2012, Location: Middle East

The decline in crude burning reduced Saudi Arabian oil demand by 0.04 tb/d in May y-o-y. However, this is not expected to be repeated in the peak of the summer, where demand for electricity is at its highest. Saudi motorists consumed almost half a million barrels of gasoline daily in May. Transportation fuel is growing at a fast rate, as a result of strong economic activity. Middle East oil demand is forecast to grow by 2.4%, to average 7.7 mb/d in 2012.


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