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Saudi production dominance to continue, analyst says

11/17/2008
Saudi Arabia will account for 20.93% of Middle Eastern regional oil demand by 2012 while providing a dominant 40.71% of supply, according to a recent analyst report.BMI’s Saudi Arabia Oil & Gas Report also said that regional oil use, which stood at 8.24 million b/d in 2001 and rose to 10.61 million b/d in 2007, should average 10.86 million b/d in 2008 and rise to some 11.81 million b/d by 2012.Regional oil production, which stood at 22.87 million b/d in 2001 and averaged 25.24 million b/d in 2007, is set to rise to 28.94 million b/d by 2012.In terms of natural gas, the region in 2007 consumed 370 billion cu m, with demand of 541 billion cu m targeted for 2012, representing 46% g...
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