World oil consumption grew by 2.7 million barrel per day
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World oil consumption grew by 2.7 million barrel per day
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Non-OECD demand rose by 2.2 Mb/d – the highest annual growth on record in volumetric terms – just slightly outpacing the growth seen in 2004. Growth remained robust in China and the Middle East with Chinese consumption growing by 860,000 b/d or 10.4%. OECD oil consumption rose by 480 Kb/d – making 2010 the first year of annual OECD growth since 2005. Despite the increase, consumption in 2010 was still 3.6 Mb/d below the peak in 2005.
Oil consumption data includes inland demand plus international aviation, marine bunkers and oil products consumed in the refining process. Consumption of fuel ethanol and biodiesel is also included.
Annual changes and shares of total are calculated using million tonnes per annum figures rather than thousand barrels daily.
Data are supplied in both volume and weight measures....READ MORE
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Today’s trends for commodity
CRUDEOIL (20 JAN) TREND: CONSOLIDATE
RES 1: 6300
RES 2: 6350
SUPP 1: 6200
SUPP 2: 6150
STRATEGY: BUY ON DIPS
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