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What the future holds in store-II: All of Middle East will not satisfy the Asian appetite for oil
Mar 15:
It is surging Asian demand -- particularly from China and India -- which will eventually have a huge impact on the oil and gas market.
8The voracious Asian appetite is such that even if the Middle East were to send all of its crude to Asia, the continent will still be 1 million barrels per day deficit.
8This in itself a big change from a few years ago, when east of Suez had excess oil, on the upper side, so crude mainly flowed from the east to west.
8But now the east-of-Suez region as a whole will fall into deficit, so this means that even if Middle East sends all of its available crude exports to Asia, the region will still need to import from other regions such as Latin America, Africa, Russia, or Central Asia.
Click on Reports for more
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8The voracious Asian appetite is such that even if the Middle East were to send all of its crude to Asia, the continent will still be 1 million barrels per day deficit.
8This in itself a big change from a few years ago, when east of Suez had excess oil, on the upper side, so crude mainly flowed from the east to west.
8But now the east-of-Suez region as a whole will fall into deficit, so this means that even if Middle East sends all of its available crude exports to Asia, the region will still need to import from other regions such as Latin America, Africa, Russia, or Central Asia.
Click on Reports for more
