*Official stats from Israel’s two refineries for 2024, as well as latest shipping and trade figures from data intelligence firm Kpler, suggest that the country’s oil demand remains well down on recent highs set in 2022. However, with the country having been in a continuous state of war over the 18 months following Hamas’ 7 October 2023 assault, the figures likely do not give the full picture.
*National oil demand data, provided alongside the results of the country’s largest refiner, the 197,000 b/d Bazan plant at Haifa, comes with a big proviso: it excludes military use. These stats show the country’s non-military oil consumption falling 4% to a three-year low 218,900 b/d for 2024, with civilian jet-kero consumption down 31% at 13,900 b/d and that for diesel down 6% at 69,000 b/d, though gasoline demand was steady at 79,900 b/d (see chart 1). (CONTINUED - 1058 WORDS)
