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World Oil Demand

36

OPEC Monthly Oil Market Report – August 2017

Table 4 - 6: Brazilian oil demand*, tb/d

Argentina

In

Argentina

, oil demand increased marginally y-o-y in May 2017. Gains in gasoline and jet/kerosene

demand were largely offset by losses in residual fuel oil requirements.

Ecuador

Preliminary estimations of

Ecuadorian

oil demand data for May 2017 show slight declines y-o-y. This is

dominated by shrinking residual fuel oil, LPG and naphtha demand. Gasoline requirements grew strongly,

while demand for all other product categories remained flat.

Latin American oil demand

is forecast to grow by 0.05 mb/d in 2017. During 2018, Latin American oil

demand is projected to increase again by 0.09 mb/d.

Middle East

Graph 4 - 11: Middle East oil demand, y-o-y

change

Graph 4 - 12: Saudi Arabian direct crude burning,

y-o-y change

Jun 17

Jun 16

tb/d

%

LPG

246

250

-4

-1.5

Naphtha

144

143

1

0.7

Gasoline

790

708

82

11.6

Jet/kerosene

110

113

-3

-2.6

Diesel oil

981

968

13

1.3

Fuel oil

91

102

-11

-10.5

Other products

305

352

-47

-13.2

Total

2,667

2,635

32

1.2

Change 2017/2016

Sources: JODI, Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis and OPEC Secretariat.

Note: * = Inland deliveries.

-200

0

200

400

600

-200

0

200

400

600

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

tb/d

tb/d

Historical range

Historical average

2016

2017

Sources: National, Joint Organisations Data Initiative,

Direct communication and OPEC Secretariat.

-300

-200

-100

0

Jun 16

Jul 16

Aug 16

Sep 16

Oct 16

Nov 16

Dec 16

Jan 17

Feb 17

Mar 17

Apr 17

May 17

Jun 17

tb/d

Sources: Joint Organisations Data Initiative, Direct

Communication and OPEC Secretariat.