Middle East Economic Survey

VOL. XLIX

No 12

20-March-2006

SUPPLY/DEMAND

IEA Cuts 2006 Demand Growth Forecast By Almost 300,000 B/D As SE Asia Demand Falters

The International Energy Agency (IEA) has reduced its forecast for 2006 oil demand growth by almost 300,000 b/d, because high prices are curbing consumption in Southeast Asias developing economies in particular. In the latest monthly Oil Market Report, published on 14 March, the IEA says: Global oil demand growth is revised down from 1.78mn b/d...