Figure 1. Quarterly world oil demand growth (OPEC May MOMR)
The forecast by region is broken down, as follows:
Figure 2. OPEC Regional consumption forecast for 2012 (OPEC MOMR )
However, while there appears to be relative stability in the market, this conceals the changes in internal consumption within the Middle East, that collectively effectively reduce the quantity of fuel that is available to the rest of the world, if their production overall remains flat.