December 2006

Trends and Resources

HP Impact: Oil and gas exporters to US market facing maturing demand

Refiners in Europe and Latin America will feel the crunch as they lose their export market for surplus products such as gasoline, according to Aileen Jamieson, managing consultant downstream oil, at W..

Weirauch, Wendy, Hydrocarbon Processing Staff

Refiners in Europe and Latin America will feel the crunch as they lose their export market for surplus products such as gasoline, according to Aileen Jamieson, managing consultant downstream oil, at Wood Mackenzie. North America is presently deficient by about 116 million tons (MMton) of oil products versus demand. However, the region's deficit of oil products is forecast to fall below 60 MMton by 2020. This decline will be a result of increased crude capacity being built (mainly in the US), outpacing growth in oil product demand. Product demand. North America accounts for 30% of global oil demand. Consumption in this region is dominated by the US, which accounts for 83% of the total

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