Middle East Economic Survey

VOL. LIV

No 25

20-Jun-2011

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...