Middle East Economic Survey

VOL. LIII

No 19

10-May-2010

SAUDI ARABIA

Transportation Drives Saudi Demand Growth

Transportation is fuelling surging domestic oil demand growth in Saudi Arabia, the latest figures from Asia Pacific Energy Consulting (APEC) show. While total Saudi demand rose by 27% in 2004-2009, gasoline demand jumped 41%, while diesel registered a 55% rise (see table). Subsidies are largely to blame for the rampant demand growth, argues APEC President Al Troner. Subsidizing retail...