Asia Bizz: Upcoming Economies Are Changing Their Oil Demand Pattern
There has been a new change witnessed in the oil consumption and demand from the upcoming giant economies like China and India, as they are shifting their patterns according to the market consumption, as per the western agencies. These countries are changing all their consumption patterns too as per the demand of oil.
CNN reports that the oil consumption in the world today is 86 million barrels a day and consumption the emerging economies is growing steadily. The consumption pattern is seen these emerging countries looks very seasonal, so this is going to bring in new challenges in logistics and refining. Oil patterns very from country to country.
As seen in China the oil patterns there are change during the first quarter just after and before the Chinese new year. In the warm countries like India the consumption pattern gets less during the hot seasons. Basically if it clumped together the oil demand in the beginning of the year is usually low.