Middle East Economic Survey

VOL. L

No 38

17-September-2007

OIL PRICES

EIA Increases Oil Demand Growth Forecast For 2008, Expecting Strong Economic Growth

The Energy Information Administration (EIA) of the US Department of Energy has raised its forecast for 2008 oil demand growth to 1.51mn b/d from 1.4mn b/d. In the latest monthly Short-Term Energy Outlook, published on 11 September, EIA explains that its forecast is based on an expectation of relatively strong world annualized economic growth of...