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...