Middle East Economic Survey

VOL. L

No 13

26-Mar-2007

Late Winter Weather Lifts OPEC Oil Demand View For 2007

The arrival of late winter weather in North America has helped lift demand for fuel oil and prompted an upwards revision in oil demand growth in 2007, according to OPECs March Monthly Oil Market Report. Warm winter weather in other OECD regions had earlier led to a decline in fuel oil demand as generators switched to natural gas, affecting the overall oil demand picture. OPEC revised oil...