Outlook for global oil demand through 2010 and implications for the Middle East economies
Article Abstract:
The global oil demand through 2010 show continuing unstable conditions due to a number of factors. Despite the Riyadh Pact, some OPEC and non-OPEC countries will still be overproducing oil resulting in excess supply over demand. Forecasts for oil demand in Asia has decreased to 75 mil barrels per day because of the current economic crisis in the region. The El Nino weather phenomenon has also affected the energy demand of affected countries. If all these continue, the average real price of oil is predicted to be below $3 per barrel for 1998.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1998
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Gulf oil exports
Article Abstract:
More than 27% of the world's oil supply was produced by the Persian Gulf states of Bahrain, Iran, Iraq, Kuwait, Qatar, Saudi Arabia and the United Arab Emirates, which holds 64% of the world's oil reserves, in 1998. Overall Gulf oil exports added up to 17.1 million barrels a day in 1998, an increase of roughly 1 million barrels per day from the 1997 level. Gulf oil exports to the US and Western Europe increased by 0.38 million and 0.5 million barrels per day, respectively, from 1997 through 1998.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1999
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Outlook for global oil demand through year 2010 and implications for the Middle East economies
Article Abstract:
The technological advances, existing or presently being enforced, may well carry a collective unfavorable effect on future energy demand. These variations cover the broader use of electric propulsion in surface transportation, additional fuel-efficient machinery and appliances and the use of less energy-intensive materials in industry. Nonetheless, any such influences are not likely to be significant.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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