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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL PRODUCTS
The Middle East is on track to become the world’s largest consumer of road fuels and a major driver of demand growth in the coming decades, according to BNEF.
- BNEF expects the Middle East to add close to 1.3m b/d to its road fuel demand by 2040, compared to just 3.8m b/d in 2021.
- This would make the Middle East the largest road fuels market in the future, with demand likely having already peaked in Europe and the US.
- BNEF expects Middle East car ownership rates to continue rapid growth, climbing 70% to 2040.
- This implies an addition of some 55 million units, slightly above Germany’s passenger car fleet as of 2022. This would push the region’s passenger car ownership past 210 per 1,000 people.
- Demand is likely to be more resilient than in other markets because electric vehicles show little sign of curbing demand for oil in the region.
Source: Bloomberg
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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