Middle East Economic Survey


No 42


Crude Prices Rise And Fall On Contrasting Demand Data

Crude oil prices firmed early last week after the latest monthly forecasts from the IEA and the EIA provided stronger oil demand growth projections than the market had anticipated. On 11 October the IEA predicted that worldwide demand would rise by 1.26mn b/d in 2005 and 1.75mn b/d in 2006, while the following day the EIA forecast demand growth of 1.2mn b/d in 2005 and 1.9mn b/d in...