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World Oil Demand

OPEC Monthly Oil Market Report – September 2017

37

Table 4 - 5: Indian oil demand by main products, tb/d

Indonesia

In

Indonesia

, the latest June 2017 data shows yet another increase of around 2% y-o-y. Additionally, y-t-d

data up to June shows a rise of 30 tb/d, or 2%, y-o-y, indicating firm demand growth in the county. In June,

products showed mixed performance, while demand for some transportation fuels (gasoline and diesel oil)

increased and LPG, jet/kerosene and ‘other products’ categories declined.

Thailand

In

Thailand

, oil demand in June was also in positive territory, with growth of around 4% y-o-y, led by LPG,

which rose more than 20% y-o-y, as demand for the petrochemical sector picked up. In addition, some

support came from transportation fuels, particularly gasoline, which increased by around 9% y-o-y.

The demand expectations for Other Asia 2017 are now slightly below those of the previous month’s report as

a result of weaker-than-expected oil demand growth from India in 1Q17. For 2018, oil demand growth in the

region remains as highlighted in the previous month’s report, which indicates steady economic conditions.

India is anticipated to be the major contributor to growth in the Other Asia category. Middle distillates,

followed by gasoline, are the leading products for oil demand growth in 2018.

Other Asia’s oil demand

is anticipated to grow by 0.33 mb/d y-o-y in 2017, while in 2018, it is projected to

rise by 0.33 mb/d.

Latin America

Graph 4 - 9: Latin America oil demand,

y-o-y change

Graph 4 - 10: Brazilian gasoline demand,

y-o-y change

Jul 17

Jul 16

tb/d

%

LPG

672

597

75

12.5

Naphtha

249

340

-91

-26.8

Gasoline

582

521

61

11.7

Jet/kerosene

232

263

-31

-11.9

Diesel oil

1,636

1,508

128

8.5

Fuel oil

279

310

-31

-10.1

Other products

358

426

-68

-15.9

Total

4,009

3,966

43

1.1

Sources: JODI, Petroleum Planning and Analysis Cell of India and OPEC Secretariat.

Change 2017/2016

-400

-200

0

200

400

600

-400

-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: Joint Organisations Data Initiative, national and

OPEC Secretariat.

0

20

40

60

80

100

Jul 16

Aug 16

Sep 16

Oct 16

Nov 16

Dec 16

Jan 17

Feb 17

Mar 17

Apr 17

May 17

Jun 17

Jul 17

tb/d

Sources: Agencia Nacional do Petroleo, Gas e Biocombustiveis

of Brazil, Joint Organisations Data Initiative and

OPEC Secretariat.