Middle East Economic Survey


No 16



EIA Forecasts Global Crude Oil Decline At 1.35Mn B/D During 2009

The Energy Information Administration (EIA) of the US Department of Energy said world oil consumption is expected to fall by 1.35mn b/d in 2009 compared with year-earlier levels, due to the global economic recession. The EIA forecast world oil demand at 84.09mn b/d for 2009, compared to 85.45mn b/d in 2008 in the latest issue of its Short-Term Energy Outlook...