Middle East oil and gas production increased in 2012, according to the latest BP Statistical Review of World Energy.
But whilst regional oil output increased by 282,000 b/d or 0.9%, consumption rose by 362,000 b/d or 4.5%. Nevertheless, some Middle East producers played a major role in offsetting oil supply disruptions. For gas, production rose by 29.7bn cu ms or 5.4%, while consumption increased by 17.1 bcm or 4.0%. (CONTINUED - 686 WORDS)