Middle East Economic Survey


No 16



IEA Holds 2007 Oil Demand Growth Forecast At 1.5Mn B/D, But Trims Demand Estimates

The International Energy Agency (IEA) has maintained its estimate for global oil demand growth in 2007 at 1.5mn b/d, but in its latest forecast has reduced actual demand levels by 200,000 b/d for both 2006 and 2007. In the monthly Oil Market Report published on 12 April, the agency says: Global oil demand has been revised down to 84.3mn b/d in 2006...