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IEA: Despite Some Weakening Demand, Oil Market Will Remain Tight Over the Medium Term

Posted on July 01, 2008

Distillates (jet fuel, kerosene, diesel and other gasoil) will remain the main growth drivers of world oil demand, followed by LPG and naphtha (mostly used aspetrochemical feedstocks) and gasoline. Click to enlarge.Despite a weakening in demand in the OECD due to weaker economic growth projections and a doubling of oil prices over the past year, ongoing supply constraints, refinery limitations and continued demand growth in key emerging markets will contribute to a tight market over the medium term (to 2013), according to the Medium-Term Oil Market Report (MTOMR 2008) just published by the Int...

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