Middle East Economic Survey
VOL. XLVIII
No 20
16-May-2005
IEA Sees Oil Market Still Rebalancing After 2004 Demand Surge
The International Energy Agency (IEA) has changed its outlook little from last month, predicting in the latest monthly Oil Market Report, published on 11 May, that global oil demand would grow by 1.77mn b/d (2.2%) in 2005. While demand estimates for China/US/European demand were reduced, this was compensated by upward adjustments to the outlook for the OECD Pacific, Asia...
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