Middle East Economic Survey

VOL. XLVIII

No 17

25-April-2005

OPEC Revises 2005 Oil Demand Slightly Higher, Upbeat On Spare Capacity Prospects

OPEC has again revised global oil demand growth to 1.89mn b/d or 2.3% in 2005 to an average 84.02mn b/d. World oil demand has been revised up slightly, mainly due to lower than normal temperatures in the Northern Hemisphere during the second half of February and the first half of March as well as on indications of somewhat stronger consumption from...