Gulf Oil and Gas accountACCOUNT

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.

Oil News in Saudi Arabia >>

Saudi Arabia >>  4/15/2019 - The Saudi Arabian Oil Company (Saudi Aramco) and Hyundai Heavy Industries Holdings today announced that they have reached an agreement for Saudi Aramc...
Qatar >>  4/12/2019 - McDermott International, Inc. (MDR) announced a large* contract award from Qatargas for engineering, procurement, construction and installation (EPCI)...

Saudi Arabia >>  4/5/2019 - McDermott International has signed a Joint Venture Agreement with Zamil Offshore to target the Maintenance, Modifications and Operations (MMO) market ...
Saudi Arabia >>  4/1/2019 - Subsea 7 has announced the award of two contracts from Saudi Aramco for Conventional projects in shallow water offshore Saudi Arabia. ...

Saudi Arabia >>  3/21/2019 - McDermott International, Inc. has been awarded a substantial* contract award from a Middle East customer for engineering, procurement, construction an...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


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

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