Middle East Economic Survey

VOL. XLVIII

No 23

6-June-2005

Demand Growth Easing But Consumption Will Not Fall, Says Société Générale

The oil market is experiencing a progressive slowing in demand growth, but there is no likelihood of a swing into declining consumption, according to Société Générale (SG). In the Energy Specials report of 24 May, SG analysts Frédéric Lasserre observes: This effect has been at work since July 2004, and as a result, despite significant increases, prices have scarcely...