Oil demand growth in Middle East set to rise

Oil demand growth in Middle East set to rise

Transportation fuels, particularly gasoline, and industrial fuels, predominantly diesel and residual fuel oil, are projected to play a significant part in the total oil demand growth of the region.. The US liquids supply growth also remains unchanged at 1.62 mb/d, an upward revision in 3Q19 is now offset by a lower estimate for 4Q19.. The non-OPEC oil supply growth forecast for 2020 remains unchanged from last month's forecast at 2.17 mb/d.. OPEC NGLs production in 2019 is estimated to have grown by 0.04 mb/d to average 4.80 mb/d and in 2020 is forecast to grow to average 4.83 mb/d.. A decision by OPEC and non-OPEC participating countries in the Declaration of Cooperation last week to continue striving for a stable and balanced oil market will play an important role in maintaining healthy global economic growth.. Global oil demand in 2019 is now anticipated to rise by 0.98 mb/d, unchanged from the previous month's report.. China is anticipated to lead demand growth globally in 2019, rising by 0.35 mb/d, followed by Other Asia, which is expected to add 0.30 mb/d y-o-y.. Oil demand growth in Latin America and the Middle East is projected to improve from 2018 levels to increase by