Diesel fuel card news: Middle East oil demand expected to grow
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09 March, 10 Oil demand in the Middle East could increase by almost five per cent in 2010, Reuters reports. The International Energy Agency expects demand growth this year to reach 7.55 million barrels per day. The recession decreased fuel use, so this would be the first growth in three years. Energy consumption growth in the region has been fast due to cheap subsidised fuel. Expansion has been fuelled by oil export income, providing the region's governments with finance during the recession. Saudi Arabia and Iran are OPEC's top oil producers and would drive over half of the increased oil demand in the Middle East. Victor Shum, an analyst at Purvin & Gertz, said the main demand in Saudi Arabia was from the transportation sector. An increased demand for diesel would cause growth of 130,000 barrels a day in Saudi Arabia this year. The Gulf Daily News reports that at the Middle East Geosciences Conference last weekend, oil and gas affairs minister Dr Abdulhussain Mirza said: "It is clear that the world can use all the energy the industry can produce from oil, natural gas and alternative energy sources." Posted by Tammy Brooks 
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