Middle East Economic Survey


No 42


OPEC Raises Global Oil Demand Forecast As Economy Recovers

The world economy now appears to be entering into a new phase, moving from a period of containing the crisis to one of economic recovery, OPEC states in its latest Monthly Oil Market Report (MOMR), released on 13 October. OPEC revised its 2009 world oil demand forecast upward by 0.2mn b/d to 84.24mn b/d, which represents a decrease of 1.4mn b/d from 2008, and it also revised upward...