Table of Contents Table of Contents
Previous Page  46 / 103 Next Page
Information
Show Menu
Previous Page 46 / 103 Next Page
Page Background

World Oil Demand

38

OPEC Monthly Oil Market Report – November 2017

Other Asia

In 2017 and 2018,

Other Asian’s oil demand

growth

is anticipated to rise at a healthy rate,

supported by improvements in economic growth,

coupled with steady developments in the

petrochemical sector and encouraging rises in

vehicle sales.

Within the region, India is seen to be the largest

contributor to growth and countries such as

Indonesia, Thailand, Singapore and the Philippines

are also projected to contribute positively to oil

demand growth in 2018.

In terms of products, light distillates – which include

LPG, naphtha and gasoline – will lead oil demand

growth next year.

Graph 4 - 10:Other Asia oil demand, y-o-y change

Taiwan

In

Taiwan

, latest available data for the month of August indicates increasing oil requirements by 61 tb/d, or

6%, y-o-y. Most of this y-o-y rise was a result of rising naphtha requirements for the petrochemical sector

followed by fuel oil and jet fuel, highlighting an improvement in the industrial and aviation sectors.

Indonesia

In

Indonesia

, positive oil demand growth in August stemmed from increasing demand for fuel oil, naphtha

and diesel oil, hinting at an improvement in industrial fuel and petrochemical feedstock requirements. In

August, Indonesia consumed around 1.72 mb/d of oil products, 22 tb/d higher from the same month a year

earlier.

Other Asia’s

oil demand

is projected to grow at a rate of 0.28 mb/d in 2017. As for 2018, oil demand is

forecast to grow once more solidly at 0.36 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

0

200

400

600

800

1,000

0

200

400

600

800

1,000

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.

-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: Joint Organisations Data Initiative, national,

direct communication and OPEC Secretariat.

-300

-200

-100

0

100

200

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

Sources: Joint Organisations Data Initiative,

direct communication and OPEC Secretariat.