Middle East Economic Survey


No 42


IEA Maintains 2008 Oil Demand Growth Forecast At 2.1Mn B/D

The International Energy Agency (IEA) has maintained its global oil demand forecasts for 2007 and 2008, keeping anticipated demand growth next year at 2.1mn b/d. In the latest monthly Oil Market Report, published on 11 October, the agency portrays a tightening market over the coming months: The latest OECD data show stock cover falling below the five-year average and, despite the...