Middle East Economic Survey
VOL. LIV
No 42
17-Oct-2011
IEA Again Reduces Demand Forecast As Global GDP Slumps
The International Energy Agency (IEA) has again reduced its global crude oil demand projection, this month by 50,000 b/d for 2011 and 210,000 b/d for 2012, on the basis of lower than expected third quarter readings for this year in the OECD and a downward adjustment to global GDP growth assumptions. In its monthly Oil Market Report (OMR), released on 12 October, the IEA said stronger...
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