July 1998

Trends and Resources

HP Impact: HPImpact: Asia-Pacific's capacity expansions, oil demand reevaluated by EW

How is the Asian financial crisis affecting that region's oil demand and refining capacity expansions? Though confusion seems to reign, researchers from the East-West Center (EW), Honolulu, Hawaii, ha..

Weirauch, Wendy, Hydrocarbon Processing Staff

How is the Asian financial crisis affecting that region's oil demand and refining capacity expansions? Though confusion seems to reign, researchers from the East-West Center (EW), Honolulu, Hawaii, have tackled the often muddled data to add their perspective and insight. To understand the economics of Asia as it relates to the HPI, EW analysts stress that "in virtually all of the Asian countries, economic growth effects have a far more powerful impact on oil demand than price effects – especially in the longer term." Country-by-country highlights from EW's two new reports follow: Korea. Its demand in first-quarter 1998 fell sharply, but has rebounded just as abruptly.

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