Middle East Economic Survey


No 5



Fimat Sees Asia Surpassing North America As Driver Of Oil Demand

Asian oil demand is rapidly closing the gap on North American consumption, according to Fimat. In the Oil Comment of 23 January, Fimat analysts Antoine Halff and Véronique Lashinski write: While North America has long consumed far more oil than the rest of the world, with the US alone accounting for an estimated 25% of global demand in 2006, Asia is catching up fast....