Middle East Economic Survey


No 20



EIA Forecasts Global Crude Oil Demand Decline At 1.8Mn B/D During 2009

The Energy Information Administration (EIA) of the US Department of Energy has projected world oil consumption to fall by 1.8mn b/d in 2009, a reduction of 400,000 b/d from the EIAs projection in its April report. In the latest issue of its Short-Term Energy Outlook, published on 12 May, the EIA put world consumption during 2008 at 85.44mn b/d and projected...