Middle East Economic Survey
VOL. XLVIII
No 38
19-September-2005
IEA Reduces Demand Growth Forecast Due To Katrina And Chinese Weakness
The International Energy Agency (IEA) has reduced its forecast for 2005 oil demand growth after an initial assessment of the impact of Hurricane Katrina, but notes that weak Chinese demand was a contributing factor. In the latest monthly Oil Market Report, published on 9 September, the IEA says: Hurricane Katrina shuttered production capacity of over 1.4mn b/d of...
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