Middle East Economic Survey


No 8


Oil Supply Will Marginally Outpace Demand Growth To 2011, Says IEA

Worldwide oil supplies will marginally outpace demand growth during 2006-11, the International Energy Agency (IEA) predicts in an interim update of its Medium-Term Oil Market Report (originally published last July MEES, 24 July 2006). The interim report, published on 7 February, observes: Non-OPEC annual supply growth is expected to average a healthy 1.3mn b/d over the five-year...