Middle East Economic Survey


No 20



IEA Holds 2007 Demand Growth Forecast At 1.5Mn B/D, Warns Of Low Stocks

The International Energy Agency (IEA) has maintained its forecast for 2007 global oil demand growth at 1.5mn b/d, and expects strong market growth to continue. In the latest monthly Oil Market Report, published on 11 May, the IEA says that while global oil product demand has been revised down by roughly 100,000 b/d to 84.2mn b/d in 2006 and 85.7mn b/d in 2007,...