Insight
Three reasons why European oil demand will decline again from 2017
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
European oil demand fell every year between 2006 and 2014, dropping by a total of 2.5 million b/d as high oil prices coupled with a flagging economy to stem oil product consumption. But in 2015 this trend reversed and we have seen growth in oil demand of 620 kb/d in the last two years. We believe this recovery will be short-lived and from the second half of 2017 we forecast a return to the structural decline in European oil demand.
Table of contents
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1. Low fuel prices: consumers reacted
- Auto-diesel:
- Gasoline:
- Gasoil:
- Jet:
- 2. In 2015 developing economies outpaced mature markets, but growth has slowed
- 3. Low petrochemical plant maintenance in 2016
- Outlook and risks
- Conclusion
Tables and charts
This report includes the following images and tables:
- North-West European auto-diesel demand and retail price
- European industrial production (rebased to 2011)
- Diesel/gasoil demand growth - new vs old demand centres
- European petrochemical plant maintenance
- OECD Europe jet demand index vs industry indicators (rebased to 2013)
What's included
This report contains:
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