Middle East Economic Survey


No 33


IEA Raises 2009 Oil Demand Forecast By 190,000 B/D To 83.9Mn B/D

The International Energy Agency (IEA) adjusted upward its forecasts for global oil demand for 2009 by 190,000 b/d and for 2010 by 70,000 b/d in its latest Oil Market Report (OMR), released on 12 August, putting demand at 83.9mn b/d and 85.3mn b/d respectively. Forecast global oil demand in 2010 has been revised up by 70,000 b/d to 85.3mn b/d, given a stronger outlook in non-OECD...