Table of Contents Table of Contents
Previous Page  42 / 103 Next Page
Information
Show Menu
Previous Page 42 / 103 Next Page
Page Background

World Oil Demand

34

OPEC Monthly Oil Market Report – November 2017

Early indications for September 2017 showed gains in oil demand of approximately 0.01 mb/d in Germany,

and 0.03 mb/d in France, while oil requirements in Italy and the UK fell y-o-y by 0.09 mb/d and 0.11 mb/d,

respectively.

Table 4 - 4: Europe Big 4* oil demand, tb/d

The outlook for European oil demand during the remainder of 2017 is in general optimistic. 2018, however,

faces uncertainties, which mostly concern the region’s high historical oil demand baseline, reduced oil price

effects on road transportation fuels and economic uncertainties, pushing risks to be more skewed to the

downside.

OECD Europe oil demand

is projected to grow by 0.16 mb/d in 2017, while 2018 oil demand will grow by

0.08 mb/d compared with 2017.

OECD Asia Pacific

Graph 4 - 5: OECD Asia Pacific oil demand,

y-o-y change

Graph 4 - 6: Japanese LPG and naphtha demand,

y-o-y change

Japan

Preliminary data for September 2017 implies that

oil demand in Japan

increased slightly by 0.02 mb/d,

y-o-y, and for the first time in 2017. Gains were found in naphtha demand for the petrochemical industry, in

addition to jet/kerosene and industrial diesel oil, while the performance of all other main product categories

was in the negative. Losses have also been registered in volumes of oil for direct burning – crude and fuel oil

– mainly as a result of fuel substitution.

Sep 17

Sep 16

tb/d

%

LPG

417

439

-22

-5.1

Naphtha

594

589

5

0.8

Gasoline

1,113

1,142

-29

-2.5

Jet/kerosene

824

857

-33

-3.8

Diesel oil

3,365

3,414

-49

-1.4

Fuel oil

219

228

-9

-4.1

Other products

672

689

-17

-2.5

Total

7,204

7,358

-154

-2.1

Sources: JODI, UK Department of Energy and Climate Change, Unione Petrolifera and OPEC Secretariat.

Change 2017/2016

Note: * Germany, France, Italy and the UK.

-800

-400

0

400

800

-800

-400

0

400

800

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.

-150

-100

-50

0

50

100

Sep 16

Oct 16

Nov 16

Dec 16

Jan 17

Feb 17

Mar 17

Apr 17

May 17

Jun 17

Jul 17

Aug 17

Sep 17

tb/d

LPG

Naphtha

Sources: Ministry of Economy Trade and Industry of Japan,

Joint Organisations Data Initiative and OPEC Secretariat.