Middle East Economic Survey

VOL. XLVIII

No 46

14-November-2005

SUPPLY/DEMAND

IEA Predicts Weaker Demand Growth Despite Chinese Resurgence

The International Energy Agency (IEA) has reduced its forecasts for global oil demand growth, and now anticipates 3Q05 and 4Q05 demand will be 800,000 b/d lower than it was predicting before Hurricanes Katrina and Rita devastated Gulf of Mexico oil production and refining installations in late August and September. In the latest monthly Oil Market Report,...