Question
You are forecasting the crude oil demand. Assume that (A) the only source of demand is car use, (B) a refinery can extract only gasoline
You are forecasting the crude oil demand. Assume that (A) the only source of demand is car use, (B) a refinery can extract only gasoline from crude oil and has to discard any remaining contents of crude oil, and (C) only gasoline is used by cars as fuel. Also assume 1 barrel = 150 litres. You are provided the following demand information. Gasoline content of each crude oil barrel = 41.22%. Average car fuel efficiency = 9.60 litres of gasoline per 100 KMs driven. Average KMs driven per car per day = 10.50 KMs per car per day. Average number of cars per capita = 0.81 car per person. Population level = 7.1 billion people. How much is the assumed crude oil demand as measured in million barrels of crude oil per day?
Question 6 options:
| 93.76 MM barrels per day |
| 96.10 MM barrels per day |
| 98.45 MM barrels per day |
| 100.79 MM barrels per day |
| 103.13 MM barrels per day |
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