Annual World Oil Demand Growth.by Region, 1991-2001
* Other includes Australia, New Zealand, the Middle East, and Africa.
Sources: History: EIA; Projections: Short-Term Energy Outlook, February 2001.
Notes:
- Following relatively small increases of 1.3 million barrels per day in 1999 and 0.9 million barrels per day in 2000, EIA is estimating world demand may grow by 1.6 million barrels per day in 2001. Of this increase, about 3/5 comes from non-OECD countries, while U.S. oil demand growth represents more than half of the growth projected in OECD countries.
- Demand in Asia grew steadily during most of the 1990s, with 1991-1997 average growth per year at just above 0.8 million barrels per day. However, in 1998, demand dropped by 0.3 million barrels per day as a result of the Asian economic crisis that year. Since 1998, annual growth in oil demand has rebounded, but has not yet reached the average growth seen during 1991-1997.
- In the Former Soviet Union, oil demand plummeted during most of the 1990s, with demand decreasing yearly by an average of 0.6 million barrels per day during 1991-1997. In the past few years, demand seems to have flattened, and 2001 is expected to continue this recent trend.
- Demand growth in Europe averaged 0.2 - 0.3 million barrels per day from 1991 through 1998. However, oil demand growth dipped significantly in 1999 before showing a slight increase in 2000. Oil demand in Europe is expected to grow in 2001 by an amount similar to that seen in the early to mid-1990s.
- In the Americas, oil demand growth has continued to be strong throughout almost all of the last decade. While there was little growth in 2000, oil demand in the Americas is expected to exhibit strong growth in 2001.