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chapter two - OAPEC

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Figure 1-6<br />

Distribution of World Oil Demand by Region, 2005-2009<br />

(%)<br />

Developments in world oil demand are examined by international<br />

grouping below.<br />

2-1 OECD Countries<br />

The OECD countries’ demand for oil in 2009 declined by<br />

1.9 million b/d (or -4.0%) from its 2008 level to 45.7 million b/d. More<br />

than 47% of the total decline occurred in North American countries,<br />

where demand fell by 0.9 million b/d to 23.3 million b/d. In West European<br />

countries demand fell by 0.5 million b/d to 14.8 million b/d, and demand<br />

in Asian industrial countries also fell by 0.5 million b/d to 7.6 million b/d,<br />

as shown in Figure (1-7) and Table (1-6).<br />

The slide in oil demand in the members of the Organization for<br />

Economic Cooperation and Development was clearly due to the impact of<br />

the global financial crisis on their economic performance, combined with<br />

another factors including the high degree of efficiency in energy use. The<br />

decrease in Japan was due to the growing use of nuclear energy in the<br />

generation sector after the completion of some nuclear facilities in addition<br />

to the use of natural gas in the mentioned sector.<br />

An analysis of OECD oil demand in quarterly basis in 2009, OPEC<br />

estimates show a decline of 300,000 b/d in the last quarter compared with<br />

the first quarter, representing a drop of about 1.2 million b/d, or 2.5% lower<br />

than the same quarter of 2008.

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