Middle East Economic Survey

VOL. XLVIII

No 29

18-July-2005

EIA Maintains Demand Growth Forecast At 2.1Mn B/D Despite Rising Crude Prices

The Energy Information Administration (EIA) of the US Department of Energy has maintained its forecast of robust oil demand growth in 2005 and 2006, despite a sharp upward revision in its crude price forecast. In the latest monthly Short-Term Energy Outlook, published on 12 July, the EIA says: Worldwide oil demand is projected to grow at an annual average of...