Middle East Economic Survey
VOL. LII
No 17
27-Apr-2009
SUPPLY/DEMAND
IEA Demand Forecast Too Pessimistic, Says ESAI
The International Energy Agencys (IEAs) recent forecast that global oil demand will decline by 2.4mn b/d in 2009 (MEES, 20 April) is too pessimistic, according to Boston-based Energy Security Analysis Inc (ESAI). In its latest Global Crude Oil Outlook, published on 15 April, ESAI estimates that oil demand will decline by 1.5mn b/d this year and sees numerous signs of a possible...
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