|Global Oil Markets Outlook, 2017|
|Gasoline demand is likely to be driven by emerging markets while developed economies move toward fuel efficient / electric vehicles|
With the current drop in crude oil prices, major suppliers of crude oil are looking to diversify their oil and gas portfolios to include refinery products and petrochemicals. Some older refineries in Europe have also temporarily become profitable to operate. Further, the success of Shale Gas and Oil has created self-sufficiency in the US and is pushing it toward increased exports. All these have resulted in major changes in the trade flow of many refinery products across the globe. Demand, driven by Asian countries, and implementation of regulations related to sulphur and other pollutants, especially in the developed economies, is further expected to change the global oil and gas landscape. This study critically examines all the factors that are expected to shape the global market for oil products till 2030 and forecasts the changes the market is expected to witness.