Middle East Economic Survey
VOL. XLVIII
No 12
21-March-2005
IEA Demand Growth Forecast Hiked To 1.8Mn B/D For 2005
The International Energy Agency (IEA) has raised its forecast for 2005 global oil demand by 330,000 b/d to 84.3mn b/d, taking annual demand growth to 1.8mn b/d. In the latest monthly Oil Market Report, published on 11 March, the IEA says: Cold weather in the northern hemisphere has caused a surge in demand. Heating fuel prices have tightened globally, but more significantly in Europe...
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