Middle East Economic Survey

VOL. XLVIII

No 7

14-February-2005

IEA Raises 2005 Oil Demand Growth Forecast To 1.52Mn B/D

The International Energy Agency (IEA) has raised its estimates of global oil demand growth, increasing 2004 demand growth by 30,000 b/d to 2.68mn b/d and 2005 demand growth by 80,000 b/d to 1.52mn b/d. However, in the latest monthly Oil Market Report, published on 10 February, the IEA says that after the demand surprises of 2004 the market has so far this year brought surprises on...