Middle East Economic Survey


No 28



EIA Reduces Forecast Decline In Global Crude Oil Demand For 2009

The Energy Information Administration (EIA) of the US Department of Energy adjusted its oil demand forecast in the latest issue of its monthly Short-Term Energy Outlook, published on 7 July. The report forecast that crude oil demand in 2009 would be higher than previously expected and it offset the projected decline in crude demand by 100,000 b/d. The agency said...