Africa Oil Demand to Rise Faster Than Most Areas, IEA Says
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Oil demand in Africa will climb at a faster pace than most of the world in the next five years because of rising transport and power-generation needs, a report by the IEA showed.
Gasoline and gasoil consumption are each forecast to rise 4.5 percent a year, while the use of jet fuel or kerosene will advance 3.9 percent, the International Energy Agency said in its medium-term oil market report today. The gains will boost Africa’s oil use by 4 percent a year from 2012 to 2018 compared with an average of 1.2 percent growth globally for that period.