Middle East Economic Survey


No 37



IEA Reduces Oil Demand Growth Forecast To 1.1Mn B/D In 2006 And 1.5mn B/D In 2007

The International Energy Agency (IEA) has trimmed its oil demand forecasts, and in doing so has also reduced its demand growth predictions in comparison with last months forecast (MEES, 21 August) to 1.1mn b/d for 2006 and 1.5mn b/d in 2007. In the latest monthly Oil Market Report, published on 12 September, the IEA observes: Global oil product...