Middle East Economic Survey

VOL. LI

No 50

15-Dec-2008

SUPPLY/DEMAND

EIA Predicts Oil Demand Decline In Both 2008 And 2009

The Energy Information Administration (EIA) of the US Department of Energy now sees negative oil demand growth this year and next, having reduced its positive forecasts month-by-month of late as the global economic outlook worsens. In the latest monthly Short-Term Energy Outlook, published on 9 December, the agency says: The status of the global economy has become the most...