Middle East Economic Survey


No 42


IEA Raises Global Oil Demand Forecast Based On Improving Economic Data

The International Energy Agency (IEA) has revised is 2009 global crude oil demand forecast upward by 200,000 b/d and raised its 2010 forecast by 350,000 b/d, based on a more optimistic economic outlook by the International Monetary Fund (IMF) and stronger preliminary data from OECD North America and non-OECD Asia and Latin America. In the latest monthly Oil Market Report...