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A visual overview of world oil markets

Author

Listed:
  • McKeogh, Kay
  • Escay, Jose
  • Sem, Sompheap

Abstract

Total world demand for oil is expected to increase about 27 percent in the period 1985-2000. Demand in the centrally planned economies should remain constant. Oil consumption in the industrial countries is expected to grow only 19 percent in the same period. But the demand in the developing countries should grow about 50 percent. No other group of countries will experience so great an increase in demand for oil. As a result of"industrialization"shifts from the industrial countries to the developing nations, oil consumption in the industrial sectors of less developed countries has remained predominant over their transportation sectors. This has important ramifications for fuel substitution, efficiency improvements, and other policies.

Suggested Citation

  • McKeogh, Kay & Escay, Jose & Sem, Sompheap, 1989. "A visual overview of world oil markets," Policy Research Working Paper Series 112, The World Bank.
    • Handle: RePEc:wbk:wbrwps:112
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