Baku, Azerbaijan, Jan. 13
By Elena Kosolapova – Trend:
Kazakhstan National Wealth Fund Samruk-Kazyna expects oil demand to rise by 1.15 million barrels per day to 96.5 million barrels per day in 2017, the fund said in its 2017 oil market outlook, published Jan. 13.
In 2016 oil demand increased by 1.23 million barrels per day.
Weak growth in demand will be in the US, India and Europe, while high growth in demand is expected in Japan and Brazil, said Samruk-Kazyna.
The fund noted that China is expected to be one of the largest contributors to oil demand growth in 2017, due to the huge car sales in 2016 resulting in gasoline demand growth.
“Upside potential relates to anticipated improving growth of the economy and consumption in the road and transportation sector, while downside risks originate mainly from consumption of alternative energy and, to some extent, from increased effectiveness of vehicles,” Samruk-Kazyna said.
Samruk-Kazyna unites the majority of Kazakh state-owned assets and manages these assets on behalf of the government. The national oil company KazMunaiGas, the railway operator Kazakhstan Temir Zholy, Kazakhstan Electricity Grid Operating Company (KEGOC), telecom operator Kazakhtelecom, and the national atomic company Kazatomprom are among these assets.
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