Middle East Economic Survey


No 4


OPEC Forecasts Demand Growth Of 0.8Mn B/D In 2010

World oil demand declined by 1.4mn b/d in 2009, but is forecast to increase by 0.8mn b/d, according to OPECs latest Monthly Oil Market Report (MOMR), published on 19 January. The decline in OECD consumption seen in 2009 is expected to lessen as economic activities increase, while non-OECD demand is forecast to grow at a rate of 1.0mn b/d, compared with 0.5mn b/d last year, the MOMR said.