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Three reasons why European oil demand will decline again from 2017

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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.

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    Three reasons why European oil demand will decline again from 2017

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This report includes 5 images and tables including:

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  • 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)

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