Middle East Economic Survey
VOL. LII
No 20
18-May-2009
SUPPLY/DEMAND
IEA Reduces 2009 Demand Forecast By 200,000 B/D To 83.2Mn B/D
The International Energy Agency (IEA) revised its forecast for global oil demand for 2009 downward by 200,000 b/d to 83.2mn b/d due to weaker-than-expected preliminary data and non-OECD country baseline changes. The latest IEA monthly Oil Market Report (OMR), released on 14 May, put crude oil demand for 2009 down by 2.6mn b/d (3%) from 2008, the sharpest single years...
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