Saudi Arabia to supply 39.4 % of Middle East oil demand by 2014

Jul 08, 2010 02:00 AM

Saudi Arabia will account for 23.12 % of Middle Eastern regional oil demand by 2014, while providing a dominant 39.37 % of supply, according to the latest "Saudi Arabia Oil & Gas Report" from BMI released.
Regional oil use of 7.47 mm bpd in 2001 rose to an estimated 10.64 mm bpd in 2009. It should average 10.98 mm bpd in 2010 and then rise to around 11.95 mm bpd by 2014, the report said.

Regional oil production was 22.83 mm bpd in 2001, and averaged an estimated 24.66 mm bpd in 2009. It is set to rise to 27.18 mm bpd by 2014. Oil exports are growing steadily, because demand growth is In 2001, the region was exporting an average 15.36 mm bpd. This total had eased to an estimated 14.02 mm bpd in 2009 and is forecast to reach 15.23 mm bpd by 2014.
Iraq has the region's greatest production growth potential, followed by Qatar.

By 2011, there should be further growth in oil consumption and more room for OPEC to regain market share and reduce surplus capacity through higher production quotas.
Oil consumption is set to increase by 28.6 %, with growth slowing to an assumed 3.0 % a year towards the end of the period, by 2019 Saudi Arabia will be using 3.20 mm bpd.

Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« October 2020 »
October
MoTuWeThFrSaSu
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31

Register to announce Your Event

View All Events