Middle East Economic Survey


No 13


OPEC Revises 2005 Oil Demand Growth To 1.86Mn B/D On OECD, China Strength

OPEC has once again revised higher its estimates of 2005 oil demand, raising annual growth to 1.86mn b/d or 2.26% due to solid consumption in the OECD countries and China. In its March Monthly Oil Market Report, OPEC estimated that 2005 global demand would now stand at 83.98mn b/d for the whole year compared to a higher revised 82.12mn b/d for 2004. With full...