Middle East Economic Survey
VOL. XLVIII
No 16
18-April-2005
IEA Trims 2005 Oil Demand Growth Forecast To 1.77Mn B/D
The International Energy Agency (IEA) has trimmed its prediction for 2005 oil demand growth by 40,000 b/d to 1.77mn b/d, with average demand for the year expected to be 84.3mn b/d. In the latest monthly Oil Market Report, published on 12 April, the agency attributes the adjustment mainly to a substantial increase in February FSU crude exports, implying a reduction in FSU demand....
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