Middle East Economic Survey

VOL. XLVIII

No 51

19-December-2005

SUPPLY/DEMAND

IEA Trims Demand Outlook In Response To Weak 2H05 Consumption

The International Energy Agency (IEA) has adjusted its oil demand outlook in response to sluggish worldwide consumption in 2H05, reducing estimated demand growth for 2005 but increasing expected growth for 2006. In the latest monthly Oil Market Report, published on 13 December, the IEA explains: Weak global demand in the third and fourth quarters, in part due to...