Middle East Economic Survey

VOL. XLIX

No 29

17-Jul-2006

OIL PRICES/SUPPLY/DEMAND

EIA Sees Oil Demand Growing By 1.8Mn B/D In 2007 Despite $69/B WTI Price

In 2006 and 2007 the WTI crude oil price is expected to average $69/B, according to the Energy Information Administration (EIA) of the US Department of Energy. Yet in the latest monthly Short-Term Energy Outlook, published on 11 July, the EIA says: Although higher prices have slowed world petroleum consumption growth, expected growth remains...