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WAF Gasoline Forecast to Dip: Wood Mackenzie

OIL PRODUCTS

Wood Mackenzie forecast that Nigerian gasoline demand will fall by 60,000 bpd next quarter to 250,000 bpd now that the gasoline fuel subsidies have ended.

  • Angola has also cut fuel subsidies which is expected to see gasoline demand fall by 30,000 bpd next quarter in the country.
  • Nigeria and Angola rely on European refiners to fulfil domestic gasoline demand requirements. They could cut crude processing by more than 300,000 bpd by the end of the fourth quarter — once summer gasoline demand slows — as a result of the combined loss in Nigerian and Angolan demand according to Wood Mackenzie analysts.

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