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CHAPTER ONE
Developments in Global Markets
In the rest of member countries the rate of increase in energy
consumption ranged from 2.7% in the UAE and 53% in Libya whose
economy began to restore its momentum and therefore the return of
growth in energy consumption after the great contraction witnessed
in Libya in the previous year.
The annual rate of growth of energy consumption in OAPEC
member countries was 5.3% per annum during the period 2009-
2012.
There was a marked difference among OAPEC members in terms
of energy consumption. Three groups may be identified:
1- Threemembers with a growth rate over 6%, namely, Qatar (14.7%),
Iraq (6.7%) and Saudi Arabia (6%).
2- Two members with a growth rate between 4% and 6%, , namely,
Kuwait (5.6%) and Algeria (4.8%).
3- Six members with a growth rate of less than 4%, namely, Egypt
(3.8%), UnitedArab Emirates (3.1%), Bahrain (1.9%) Tunisia and
Syria (1.5%), Libya has recorded a decline in the level of energy
consumption (- 4.1%) in 2012 when compared with 2009.
The rise in energy consumption in OAPEC member countries in
2012 is estimated at 618,000 boe/d. It is mainly attributable to three
countries: Libya (167,000 boe/d), Saudi Arabia (164,000 boe/d) and
Egypt (73,000 boe/d). The increase in energy consumption in these
three Arab countries account for 65% of the total increase in energy
consumption in Arab countries.
The increase in other member countries was as follows: Iraq
(55,000 boe/d), Qatar (44,000 boe/d), Kuwait (40,000 boe/d), the
