Sunday, May 25, 2008

Oil Demand Growth

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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