World Oil Demand

As emerging countries need more energy to raise their living standards, world oil demand is increasing. As shown below, it is estimated that by 2030, China and India will import more than 90% of fossil fuel demand as emerging markets (1). Coupled with the continued rise in demand for petroleum, has become a strong market over the next 30 years. Currently, the traditional approach is to positively explore and develop new fields. This has led to the drilling of deeper wells and the quest for new "light" crude oil in the "offshore" place.

Part of our problem is that world demand for oil is rapidly increasing along with globalization. In 2012, Chinese buyers bought more cars than the buyers in Europe. Global demand rose sharply and oil prices have rarely increased, so world prices rose. This time, the possibility of world oil demand occurring in the early 1980s is low. Even if the consumption of oil in Western countries drastically declines, the East has sufficiently restrained demand to utilize any available oil in the market.

In order to understand the influence of "supply and demand" due to the sharp decline of ED, we must pay attention to the structure of the petroleum world. There is no simple "supply and demand" for petroleum operating in the GIW and the oil market between the oil industry and the GIW. The only visible oil market is between the petroleum industry, oil producers, and petroleum transformers (refineries) that supply transportation fuel (TF) and petrochemical products to the GIW. In addition, some speculators are trying to earn money by exploiting variations between producers and transformer operations.

Today, the world oil demand is about 400 billion tons of oil (Mtoe), the production volume of liquid biofuel (transportation, most demand) reaches 36 Mtoe, which is less than 1% of the global total demand I will not. Approximately 85% of liquid biofuels are currently produced in the form of bioethanol.