WORLD CONSUMPTION FOR REFINED OIL PRODUCTS IN 2010
World energy consumption of refined products increased 3.8%; this is the first increase since 2004, the last year with prices below US$50/bbl.
This trend was supported by fast-growing demand for road and air transport, particularly in developing countries. In China, demand for refined products surged by 12% due to increasing needs. Asia accounted for more than 40% of the overall increase in consumption. In Latin America, demand rose sharply by 5.7%, representing 13% of the increase. In CIS, consumption grew by 7.3% (8.9% in Russia), while rising 4.2% in the Middle East (driven by Saudi Arabia and Kuwait). Each region contributed 8% to the overall increase.
Consumption in OECD countries (47% of overall consumption) increased more slowly (1.6%). The United States remained by far the world’s largest consumer of refined products. Consumption there grew by 2.1% (11% of the increase), but did not recover to pre-crisis levels. In Japan, consumption rose by 1.6% after a sharp drop in 2009, while in Europe, consumption of oil products remained quite stable during the year.