asias-thirst-for-oil-to-surpass-us-in-2010

Asia's thirst for oil to surpass US in 2010

Demand for oil from non-OECD countries in Asia is expected to surpass the demand from the US in 2010, according to Soozhana Choi, head of commodities research at Deutsche Bank.
 Soozhana Choi
Soozhana Choi

Soozhana Choi, head of commodities research for Asia at Deutsche Bank, discusses her forecasts for global oil demand growth and the impact of Asia's continued build-out of refinery capacity. 

How do you see global demand for oil developing in 2010
We think 2010 will be the first year that non-OECD Asia's Asia ex-Japan, ex-South Korea share of global oil demand will be greater than that of the United States.

We forecast US to account for 22% of global oil demand this year, down 3.4% from 10 years ago, while non-OECD Asia will account for 22.1%, up 6.1% from 2001. Chinese oil demand will grow by 5%, with the rest of non-OECD Asia expected to...

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