FACTS: Asia-Pacific refined product demand to rebound in 2006 and later

After experiencing strong growth in 2004, the Asia-Pacific region’s oil demand growth slowed in 2005, particularly during the second half of the year, according to a July 2006 study from FACTS Inc., Honolulu. For 2006 and beyond, the study predicts stronger demand growth, especially in China, South Korea, Indonesia, Malaysia, and Vietnam.In its “Energy Briefs, Asia-Pacific Petroleum Product Demand: An Update,” FACTS revised downward its 2005 preliminary estimate for the region’s oil demand growth to 445,000 b/d (Fig. 1). Click here to enlarge imageThe International Energy Agency revised downward global demand for 2005 to 1.05 million b/d from 1.6 million b/d in mi...

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