Company Performance Metrics
Bruce Abbott: COO & President
Crude petroleum is the largest single source of energy in the world, accounting for approximately 35–40% of energy consumed in the world, and is the basic building block for a large number of chemical products consumed globally. In early 2010, global crude petroleum demand was slowly recovering after the first decline in growth since the early
1980's. Demand growth in the US, Japan, and Western Europe will be slow as domestic economies start to improve. In regions such as South and Central America, Africa, Middle East, and Eastern Europe where domestic demand is slowly on the rise, growth will be more robust as markets give way to exports. Asia continues to experience the greatest demand growth and a focus on domestic development. World oil demand is forecast to increase steadily 1-2% through 2011 and rise to 2% for 2012-2014.
