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World oil demand's shift toward faster growing and less price-responsive products and regions

Dates

Year
2010

Citation

Dargay, Joyce M., and Gately, Dermot, 2010, World oil demand's shift toward faster growing and less price-responsive products and regions: Energy Policy, v. 38, iss. 10, p. 6261-6277.

Summary

Using data for 1971-2008, we estimate the effects of changes in price and income on world oil demand, disaggregated by product - transport oil, fuel oil (residual and heating oil), and other oil - for six groups of countries. Most of the demand reductions since 1973-74 were due to fuel-switching away from fuel oil, especially in the OECD; in addition, the collapse of the Former Soviet Union (FSU) reduced their oil consumption substantially. Demand for transport and other oil was much less price-responsive, and has grown almost as rapidly as income, especially outside the OECD and FSU. World oil demand has shifted toward products and regions that are faster growing and less price-responsive. In contrast to projections to 2030 of declining [...]

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  • Western Energy Citation Clearinghouse

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Additional Information

Identifiers

Type Scheme Key
DOI WECC []
ISSN WECC 0301-4215

Citation Extension

journalEnergy Policy
parts
typePages
value6261-6277
typeVolume
value38
typeIssue
value10
citationTypeJournal Article

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