Diesel demand heading east
As Europeans are falling out of love with diesel, market share elsewhere will keep rising
Over the next 25 years demand for what is now the region’s favourite road fuel will fall as sluggish oil consumption in the rich world, environmental concerns and a shift towards gasoline use in light-duty passenger vehicles all curb consumption. Last year, oil demand in OECD nations got a temporary boost, as lower prices encouraged stock building and crude consumption increased. But by the fourth quarter of 2015 the longer-term trend was back in play: demand for crude in these countries fell by around 375,000 b/d compared with the previous quarter. That was a marked drop. Over the previous five years, rich nations posted quarter-on-quarter demand growth of around 190,000 barrels a day, acco
Also in this section
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing
26 April 2024
Slowing demand growth and capacity expansions will squeeze refiners in coming years
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields