The Middle East’s consumption of oil products from gasoline to jet fuel will add to pressures on global oil demand for this year as countries led by the energy-dependent Gulf region face economic slowdown, extended lockdowns and an oil price crash that will slam budgets already constrained by the coronavirus pandemic. Demand for oil products in the region will drop by a record 2.9% this year, with jet fuel/kerosene consumption plunging 15% and gasoline use falling by almost 6%, according to latest estimates from S&P Global Platts Analytics . The region covering 14 countries including Saudi Arabia, Bahrain, the UAE and Iran had contributed […]