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SPECIAL REPORT: Refined product demand justifies Middle East refinery investments

08/25/2008
Steadily rising refined product demand in the Middle East is inducing significant refinery investments in the region. These offsetting factors complicate the outlook for refined product exports and imports from countries in the Middle East.Development of the Middle East’s oil industry during the next few years will be crucial to the outlook for the global oil industry. The region is crucial from a crude oil supply perspective and appears likely to increase its current 31% share of global crude oil and condensate production.The region, however, is also a substantial net exporter of refined products: in 2007, refineries produced about 6.5 million b/d compared with regional consumption...
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