Insight
Three reasons why European oil demand will decline again from 2017
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
-
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 5 images and tables including:
- 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:
Other reports you may be interested in
Asset Report
Ain Sokhna FSRU (BW) - LNG regas terminal (Suspended)
Following the cessation of LNG imports into Egypt and the departure of the BW Singapore from Sumed in late 2023, we have suspended our ...
$1,200
Commodity Market Report
Latvia downstream oil long-term outlook
Latvia's oil demand is in structural decline and the fuel market remains dominated by the top three players.
$4,750
Commodity Market Report
Spain downstream oil long-term outlook
Oil demand in Spain is recovering, but will enter into gradual decline beyond 2023.
$6,750
