Middle East Economic Survey


No 51-52


IEA Revises 2010 Oil Demand Growth Forecast Upward By 130,000 B/D

The International Energy Agency (IEA) has left its global oil demand forecast for 2009 virtually unchanged and revised upward its 2010 demand forecast by 130,000 b/d. In the latest monthly Oil Market Report (OMR), released on 11 December, the IEA said global demand is expected to average 84.9mn b/d in 2009 (-1.6% or -1.4mn b/d year-on-year) and 86.3mn b/d in 2010 (+1.7% or...