Middle East Economic Survey


No 16


IEA Forecasts 1.47Mn B/D Oil Demand Growth In 2006

The International Energy Agency (IEA) has trimmed its forecast for 2006 global demand growth to 1.47mn b/d, having last month reduced its prediction by 300,000 b/d to 1.49mn b/d because of persistently high product prices and faltering Southeast Asian demand (MEES, 20 March). In the latest monthly Oil Market Report, published on 12 April, the IEA observes that the slightly reduced forecast...