ABSTRACT
Global oil consumption grew by 1.1% in 2007, i.e. 1 million barrels per day (b/d), slightly below the 10-year average. Consumption in the oil-exporting regions of the Middle East, South and Central America and Africa accounted for two-thirds of the world’s growth. The Asia-Pacific region grew by 2.3%, roughly in line with the historical average even though growth in China and Japan was below average, with strong
World Oil Demand
growth in a number of emerging economies. OECD consumption fell by 0.9%, or nearly 400,000 b/d. The global growth rate for light distillates matched that of middle distillates for the first time since 2002 due to strong petrochemicals demand.
