Gunvor expects growth of the world oil-refining capacities by 8-9 million barrels per day
Edited by Rhod Mackenzie / 2013-10-14 05:03:49
By 2018,the implementation of new processing capacities at the amount of 8-9 million barrels per day will become necessary due to the increase of the demand for oil. The facilities will be mainly constructed in Asia, in the Middle East and in Latin America, the Head of the Analysis Dept of Gunvor ,David Fyfe reported at the conference devoted to the oil products market of the RF.
“The World demand for oil will grow by 1 million barrels per day a year up to 2018 due to the markets of developing countries, consumption will be concentrated on the transportation and petrochemical industries”, he added.