Gulf Crude Burn Down Sharply In 2018, But Fuel Oil Is The Key Replacement Fuel

24 Aug 2018 Issue: 61 / 34 By: Jamie Ingram

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Iraq Kuwait Saudi Arabia UAE

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IN THIS ARTICLE

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Gulf* Crude Burn Was Down 29% (180,000 B/D) In 1H18: Saudi Burn Was Down 10%, Iraq's By Almost Two-Thirds And Kuwaiti Burn Fell To Zero....

Gulf Countries Have Bigged Up Gas-To-Power And Renewables Additions, But Fuel Oil Use Is Up 95,000 B/D (12%) Equating To More Than Half The Crude ‘Savings’…

…So Overall Oil Burn** Savings Are More Modest, Ranging From 3% For Kuwait For 1H18 To 10% For Iraq

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