Middle East Economic Survey


No 12


IEA Reduces 2009 Oil Demand Forecast To 84.4Mn B/D As Economic News Not Encouraging

The International Energy Agency (IEA) revised its forecast for global oil demand downward for 2009 to 84.4mn b/d following a reassessment of demand prospects in the FSU, Asia and OECD North America in its latest Oil Market Report (MOR), published on 13 March. Global oil demand is now projected at 84.4mn b/d in 2009 (-1.5% or -1.2mn b/d when compared with the...