Middle East Economic Survey

VOL. XLVIII

No 4

24-January-2005

IEA Raises 2005 Demand Growth Forecast Slightly To 1.44Mn B/D

Global oil demand growth is set to slow in 2005, but will still be led by China and non-OECD Asia, according to the International Energy Agency (IEA). In the latest monthly Oil Market Report, published on 18 January, the IEA maintained its estimate of worldwide oil demand growth for 2004 at 2.65mn b/d, but raised its forecast for 2005 growth by 60,000 b/d to 1.44mn b/d. Last...