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"We wish to convey our sincere thanks to your organization which has been professionally handling our biz since 2003. We would like to take this opportunity to thank everyone of your staff members who supported and helped us during the hard times and gave us workable solutions and ideas to reach our business objectives. Al Rana Equipment & Machinery Trading Eng. Bassam Nowfat - Managing Director"

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MIDDLE EAST OIL DEMAND IN AUGUST 2014
8/17/2014 12:00:00 AM

In Saudi Arabia, June 2014 oil demand was characterized by continued healthy growth. All product categories
increased during the month with the exception of jet/kerosene and fuel oil. Robust increases were recorded
in crude oil for direct burning, diesel oil, LPG and gasoline, matching the development and expansion in the
petrochemical sector as well as the road transportation sector. Growth in the road transportation sector
was also supported by gains in auto sales and the seasonal pickup in demand during the holy month of Ramadan,
while increases in crude oil for direct burning were recorded as a result of new mega projects in the country
in addition to increased usage of air conditioning during the summer months.
Oil demand also grew at a robust pace in Kuwait during June 2014 as a result of healthy increases in
transportation fuels, namely gasoline and jet/kerosene, which increased by more than 30% as compared to
June 2013. Overall oil demand increased by more than 10% in June 2014 as compared to June 2013.

In Iraq, oil demand requirements in June decreased for the first time since November 2013, down by almost
12% y-o-y, with all product categories registering declines. The outlook for 2014 Middle East oil demand
remained unchanged since last month’s projections with risks being equally distributed both to the upside
and downside. For 2014, Middle East oil demand is expected to grow by 0.31 mb/d, while oil demand in 2015 is
projected to increase by 0.30 mb/d.

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