Middle East Economic Survey


No 33


EIA Sees Rising Inventories, Low Consumption Signaling Overall Weakness In Market

The Energy Information Administration (EIA) of the US Department of Energy has said preliminary data indicate that global oil consumption declined by 3.1mn b/d in the first half of 2009 compared with year-earlier levels. In the latest issue of its monthly Short-Term Energy Outlook (Outlook), published on 11 August, the EIA said OECD countries accounted for 2.8mn...