Oil

(asked on 24th September 2019) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment she has made of the effect on the energy supply of the downgrade in the forecast for oil demand growth in 2019.


Answered by
Kwasi Kwarteng Portrait
Kwasi Kwarteng
This question was answered on 1st October 2019

Indigenous oil production was equivalent to around 70 percent of the UK’s oil demand in 2018 and plays an important role in meeting our energy needs. The UK also benefits from diverse sources of supply through access to a global market for crude oil and refined oil products. Growth in global oil demand is expected to be lower than originally forecast for 2019, helping to ensure there are healthy levels of global oil stocks and resilience to global oil supply disruptions.

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