Middle East Economic Survey


No 46


IEA Ups Global Demand Forecast On Improving Data And Buoyant Asian Demand

The International Energy Agency (IEA) has revised its 2009 and 2010 global crude oil demand forecasts upward by 210,000 b/d and 140,000 b/d respectively based on stronger preliminary data on OECD North America and buoyant demand in non-OECD Asia/Middle East. In the latest monthly Oil Market Report (OMR), released on 12 November, the IEA said global oil demand is now...