Middle East Economic Survey


No 5



OPEC Cuts Oil Demand Growth View For 2006 And 2007 On Mild Winter

OPEC has cut its forecast for oil demand growth in both 2006 and 2007 due to the mild autumn and winter weather seen in late 2006 and in early January 2007, according to the January Monthly Oil Market Report. But despite these revisions, OPECs outlook on the global economy was on balance positive, with global growth forecast for 2007 at 4.5%, up from 4.4% in...