Middle East Economic Survey


No 25


IEA Raises Short Term Demand Growth Forecast Slightly

The International Energy Agency (IEA) raised its estimate for global oil demand growth for 2010 and 2011 by 100,000 b/d in its latest monthly Oil Market Report, released on 16 June. The Paris-based agency said the revisions were largely a result of non-OECD baseline revisions. It put demand estimates at 88.0mn b/d in 2010, up by 2.8mn b/d over 2009, while 2011 demand is expected to...