Middle East Economic Survey

VOL. LIV

No 33

15-Aug-2011

EIA Holds Demand Growth Forecast Steady

The Energy Information Administration (EIA) of the US Department of Energy has left its projection for world oil demand growth for 2011 and 2012 unchanged from its previous months forecast. In the latest Short Term Energy Outlook, released on 9 August, the EIA said it expects world crude consumption to grow by 1.4mn b/d in 2011 and by 1.6mn b/d in 2012, outpacing average global demand growth of...