Middle East Economic Survey

VOL. LII

No 28

13-Jul-2009

OPEC

OPEC Slashes Demand Forecasts

The global economic recession and new energy policies being implemented by consumer countries are driving a fundamental and far-reaching transformation of the world oil market, warned OPEC officials at the 8 July launch of the organizations World Oil Outlook (WOO) and Annual Statistical Bulletin 2008. The long-term impact of these changes is hard to quantify, the WOO said, but one thing is clear demand will...