Rising investments in Downstream Development in the Middle East

With approx. 45% of all crude oil produced coming from OPEC, there is a visible change in the strategy of Middle east oil producers . Over the last 5 years export of refined products has grown to reach 50% of the total output from middle eastern refineries. With majority of the product going to the developing Asia Pacific Market and exports from Middle East growing at 10% year on year, Middle east is trying to gain more value from its crude oil production by increasing its product exports.