Middle East Economic Survey


No 34


IEA Holds Demand Growth Outlook Steady At 1.2Mn B/D In 2006 And 1.6Mn B/D In 2007

The International Energy Agency (IEA) has held its global oil demand outlook steady, with recent Chinese demand strength being counterbalanced by downward adjustments to US data and relative demand weakness in Europe and Japan. In the latest monthly Oil Market Report, published on 11 August, the IEA said: Chinese apparent demand came in almost 300,000 b/d above...