Middle East Economic Survey
VOL. LII
No 7
16-Feb-2009
SUPPLY/DEMAND
IEA Forecasts 2009 Oil Demand Fall Of 1.0Mn B/D, Largest Decline Since 1982
The International Energy Agency (IEA) revised its forecast for global oil demand for 2009 to 84.7mn b/d following a reassessment of economic assumptions by the International Monetary Fund (IMF), the agency said in its latest Oil Market Report (OMR), published on 11 February. The IMF had predicted that global GDP growth would be 0.5% for 2009. The IEA said:...
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