Rising Oil-Fired Power Generation In Saudi Arabia Could Weigh On Global Supply ...Middle East

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Rising Oil-Fired Power Generation In Saudi Arabia Could Weigh On Global Supply
source : OILPRICE ( Middle East ) () 30
Direct crude and product burn at power generation plants in the two largest OPEC producers has accelerated as the summer approaches, which could leave lower available crude supply for international markets, analysts say. So far this year, oil-fired power generation has rebounded to meet strong power demand, commodity analyst Giovanni Staunovo said on Wednesday, citing data from the International Energy Agency (IEA). In Saudi Arabia and Iraq, OPEC’s largest and second-largest oil producer, respectively, burning of fuel oil and direct crude…

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