Middle East Economic Survey


No 27


IEA Medium Term Outlook Sees Crude Demand Growth Averaging 540,000 B/D To 2014

The International Energy Agency (IEA) has forecast global oil demand as growing by 0.6% or 540,000 b/d per year on average between 2008 and 2014, from 85.8mn b/d to 89.0mn b/d. In its Medium-Term Oil Market Report (MTOMR), released on 29 June, the IEA said this forecast is based on the economic outlook posited by the International Monetary Fund (IMF) in the April...