Middle East Economic Survey

VOL. XLIX

No 8

20-February-2006

OPEC/SUPPLY/DEMAND

Fresh Weak 4Q Data Sees OPEC Shave 2005 Oil Demand Growth And 2006 Forecast

Fresh data suggesting weaker than anticipated economic performance in 4Q 2005 has led OPEC to revise oil demand growth in the year to under 1mn b/d, as well as marginally cut views for 2006, according to the February Monthly Oil Market Report. World oil demand growth in 2005 was revised down 100,000 b/d to 970,000 b/d, an average 1.2% growth rate...