Middle East Economic Survey

VOL. LII

No 42

19-Oct-2009

IHS CERA Says OECD Oil Demand Has Peaked

OECD demand for crude oil likely reached its peak in 2005, well before the current recession began, according to a new report released by IHS Cambridge Energy Research Associates (IHS CERA). While world oil demand is now set to grow as the world economy moves from recession to recovery, the demand lost in 30 developed countries that make up the OECD is not likely to ever be regained, the report said....