Oil product market outlook of Asia-Pacific and Vietnam to 2035

  • Doan Tien Quyet
  • Tran Quoc Viet
  • Le Hoang Linh
  • Le Huyen Trang
  • Nguyen Thu Ha
DOI: https://doi.org/10.25073/petrovietnam%20journal.v9i0.298
Keywords: Oil products, gasoline, diesel, Asia-Pacific, Vietnam, forecast

Abstract

The article introduces Wood Mackenzie’s forecast on demand and supply of oil products in the Asia-Pacific region and Vietnam to 2035. With an assumed GDP growth rate of 3.5% per annum, demand in the region is expected to reach 41.1 million b/d in 2035. In the supply side, with the existing 244 refineries (total refining capacity of around 34 million b/d), Asia-Pacific is forecast to increase its refining capacity to 2.1 million b/d from new refineries and the expansion of existing ones. Vietnam’s demand for oil products is forecast by Wood Mackenzie to continue to grow based on an estimated aver- age GDP growth of 4.4% per annum between 2015 and 2035, and reach 885,000 barrels per day in 2035.

References

1. Wood Mackenzie. Other Asia Pacific product markets long-term outlook H1 2016. 6/2016.
2. Wood Mackenzie. Vietnam product markets long- term outlook H1 2016. 6/2016.
Published
2016-09-30
How to Cite
Doan Tien Quyet, Tran Quoc Viet, Le Hoang Linh, Le Huyen Trang, & Nguyen Thu Ha. (2016). Oil product market outlook of Asia-Pacific and Vietnam to 2035. Petrovietnam Journal, 9, 58 - 63. https://doi.org/10.25073/petrovietnam journal.v9i0.298
Issue
Vol 9 (2016)
Section
Articles

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