High oil prices dampening Asia-Pacific product demand

Asia-Pacific petroleum product demand growth in 2004 was unusually strong; incremental demand for oil products was 1.1 million b/d, the highest recorded level in more than 3 decades. In 2005, however, persistent high oil prices have started dampening the region’s product demand.Demand growth will ease to about 700,000 b/d (a 3.2% increase) in 2005 and 800,000 b/d (a 3.5% increase) in 2006, compared to a 5.2% increase in 2004.Asia-Pacific will continue to play an important role in global demand growth-the region will account for 38-46% of incremental global demand during 2004-06.In the long term, the region’s oil demand will grow an average of 3.3%/year through 2010 and 2.7%/ye...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected