This chart is the best top-level summary of what is going on in physical demand for oil:
Change in Oil Demand (Mbpd) | 2004 | 2005 | 2006 | 2007 |
Total OECD | 0.75 | 0.30 | -0.32 | -0.37 |
Total Non-OECD | 1.97 | 1.02 | 1.30 | 1.11 |
Total World Demand | 2.72 | 1.32 | 0.97 | 0.73 |
Organization for Economic Cooperation and Development (OECD) countries are: Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, South Korea, Spain, Sweden, Switzerland, Turkey, United Kingdom, and United States.
These two give info about the marginal demand equation, worldwide:
Change in Oil Demand (Mpbd) | 2004 | 2005 | 2006 | 2007 |
Other Non-OECD | 0.50 | 0.53 | 0.54 | 0.52 |
China | 0.86 | 0.28 | 0.48 | 0.38 |
Other Asia | 0.45 | 0.15 | 0.13 | 0.13 |
Former U.S.S.R. | 0.13 | 0.03 | 0.13 | 0.07 |
Other OECD Europe | 0.08 | 0.16 | 0.06 | -0.01 |
South Korea | -0.02 | 0.04 | -0.02 | 0.03 |
Mexico | 0.05 | 0.05 | -0.05 | 0.05 |
Non-OECD Europe | 0.02 | 0.02 | 0.01 | 0.01 |
Canada | 0.09 | 0.00 | -0.03 | 0.08 |
Australia & New Zealand | 0.02 | 0.02 | 0.00 | 0.02 |
U. S. Territories | 0.00 | 0.00 | 0.01 | -0.03 |
United States | 0.70 | 0.07 | -0.11 | 0.01 |
United Kingdom | 0.04 | 0.04 | 0.00 | -0.07 |
France | 0.01 | -0.02 | -0.03 | -0.02 |
Italy | -0.08 | -0.04 | -0.02 | -0.05 |
Germany | -0.01 | -0.02 | 0.02 | -0.20 |
Japan | -0.13 | 0.01 | -0.15 | -0.19 |
Growth in Oil Demand | 2004 | 2005 | 2006 | 2007 | Avg |
China | 15.4% | 4.4% | 7.2% | 5.2% | 8.0% |
Other Non-OECD | 3.9% | 3.9% | 3.9% | 3.6% | 3.8% |
Other Asia | 5.7% | 1.8% | 1.5% | 1.5% | 2.6% |
Non-OECD Europe | 3.0% | 3.2% | 2.0% | 1.4% | 2.4% |
Former U.S.S.R. | 3.3% | 0.8% | 3.3% | 1.7% | 2.3% |
Canada | 4.2% | -0.1% | -1.4% | 3.7% | 1.6% |
Australia & New Zealand | 1.6% | 1.6% | 0.0% | 1.9% | 1.3% |
Mexico | 2.4% | 2.5% | -2.4% | 2.5% | 1.2% |
Other OECD Europe | 1.2% | 2.2% | 0.9% | -0.1% | 1.0% |
United States | 3.5% | 0.3% | -0.6% | 0.0% | 0.8% |
South Korea | -0.9% | 1.7% | -0.8% | 1.5% | 0.4% |
United Kingdom | 2.3% | 2.0% | -0.2% | -3.6% | 0.1% |
France | 0.4% | -0.9% | -1.4% | -1.2% | -0.8% |
U. S. Territories | 1.3% | -1.4% | 2.6% | -8.8% | -1.6% |
Germany | -0.5% | -0.7% | 0.7% | -7.4% | -2.0% |
Japan | -2.3% | 0.3% | -2.7% | -3.6% | -2.1% |
Italy | -4.2% | -2.2% | -1.3% | -3.1% | -2.7% |
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