FINANCIAL NEWS

Oil demand in MENA to grow by 63tb/d

13 Oct 2016

(MENAFN) The Middle East”s oil demand is predicted to grow by 63 thousand barrels per day for this year and will grow by 0.18mb/d in the coming year.

Meanwhile, oil demand growth in KSA recorded positive increase in August after four consecutive months of drops and only for the third time in 2016.

In addition, all products had positive increase, with the exception of direct crude burning and diesel oil, which shrank by almost 12.8 percent and 1.9pct.

However, the OPEC Reference Basket slipped in Sep to USD42.89/b, while ICE Brent ended up USD47.24/b.

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