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European Gasoline Demand To Grow 19kbpd Through 2023: EA

OIL PRODUCTS

European gasoline demand is forecast to grow by 19kbpd on average through 2023 as demand remains resilient despite macro fears according to Energy Aspects.

  • Latest European gasoline consumption was 85kbpd above the Energy Aspects’ forecast, it added.
  • French strike related outages and planned maintenances meant 1.75mbd of European CDU capacity was offline in March.
  • French strikes kept more than 5mn barrels of gasoline off the market from early March.
  • “We expect French strikes to return all capacity to the market by May and maintenance to fall by 0.53m b/d m/m in April,” EA said.

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