Middle East Economic Survey


No 20


EIA Trims Oil Demand Outlook, Reduces Forecast For OPEC Production

The Energy Information Administration (EIA) of the US Department of Energy has reduced its forecast for 2011 global oil demand but raised its expectations for 2012. In the monthly Short-Term Energy Outlook, published on 10 May, EIA predicts: Total world oil consumption will grow by 1.4mn b/d in 2011, which is about 100,00 b/d lower than last months Outlook, and 1.6mn b/d...