Middle East Economic Survey


No 8


IEA Increases 2007 Oil Demand Growth Forecast To 1.5Mn B/D After China Revisions

The IEA has increased its monthly prediction for 2007 oil demand growth to 1.5mn b/d compared with 1.4mn b/d in its January forecast (MEES, 22 January). In the latest Oil Market Report, published on 13 February, the IEA explains: Global oil product demand is raised by 111,000 b/d in 2006 to 84.5mn b/d and by 273,000 b/d in 2007 to 86.0mn b/d following revisions to...