Rise in Asian oil demand to 29.9 million barrels per day in 2015

0601 2016
Weak prices raise the volume of consumption

Advisory House estimates FACTS Global Energy indicate a rise in Asian oil demand of 26.7 million barrels per day in 2010 to reach 29.9 million barrels per day in 2015, an increase of 630 thousand barrels per day.

The Advisory House is expected to continue growing over the next five years but less than the pace of 29.9 million barrels per day in 2015 to up to 32.6 million barrels per day in 2020, an annual increase is about 550 000 barrels per day, almost.

About that Dr Mohammad Al-Shatti -mahll Nafty- there is difficulty in the atmosphere of the oil market for the benefit of customers in the future, especially with Iran naturally return and rising production from Iraq and the return of Libya later to produce a natural manner, as well as the expectations of the Secretariat of the medium-term OPEC that demand for OPEC oil remains swinging about 31 million barrels per day over the next five years, compared to actual production of OPEC during the month of November 2015 at 31.6 million barrels per day.

He said during the past financial years, crude oil prices have noted down continued, I took a pace to speed has dropped from $ 115 a barrel in 2011-2012 to $ 110 a barrel in 2012 to 2013, and then $ 108 a barrel in 2013 to 2014, and then $ 85 a barrel in 2014 - 2015, and then $ 52 a barrel by 2015 - 2016 and fall further in 2016-2017 with the return of Iran's oil market.

Of the things that there is a consensus around it is that which determines the margins of refineries profits is the state of demand and supply in the region, reflected the recovery in margins refiners profits during 2015, the strength of global demand for oil and petroleum products, which were often beyond expectations, especially in the Asian market and the European market

That is why expectations about the increase in global oil demand rate came through in 2015 by 1.5 million barrels per day compared with the same period of 2014, and came Ghalib increase of gasoline and diesel and jet fuel, has contributed three key countries in this increase which China and the United States of America and India has contributed to stimulate demand weakness in crude oil prices, and expects to market sources of continued global demand for oil to grow by 1.3 million barrels per day, at least during 2016, despite suspicions that the performance of the Chinese economy is damaged, so that Chinese oil demand will not be much affected.

2016 Al-Riyadh newspaper