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 >>

Qatar >>  8/15/2019 - Seadrill Limited (Seadrill) refers to the announcements made on May 1, 2019 in connection with the award of drilling contracts by Qatar Petroleum to ...
Oman >>  7/31/2019 - BP and Eni have signed an exploration and production sharing agreement (EPSA) for Block 77 in central Oman with the Ministry of Oil and Gas of the Sul...

United Arab Emirates >>  7/31/2019 - OMV, the international integrated oil and gas company based in Vienna, and ADNOC, the Abu Dhabi National Oil Company, closed the strategic equity part...
United Arab Emirates >>  7/29/2019 - National Petroleum Construction Company (NPCC), in conjunction with its joint venture (JV) partner Petrofac, has secured a new contract with Al Yasat ...

Iraq >>  7/28/2019 - Dana Gas PJSC, the Middle East's largest private sector natural gas company, announces that its share of the proved plus probable (2P) hydrocarbon res...
Qatar >>  7/26/2019 - Jack-up drilling rigs "HAKURYU-10" and "HAKURYU-12", both operated by JDC's subsidiary company "Japan Drilling (Netherlands) B.V." at Al-Shaheen Oil F...

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.