VOL. XLVII

No 04

26-January-2004

SUPPLY/DEMAND

IEA Increases 2004 Demand Growth Forecast Marginally To 1.22Mn B/D

The International Energy Agency (IEA) has increased its demand growth forecast for 2004 slightly on the basis of continuing economic recovery, but is concerned that low stocks are being exacerbated by supply policies designed to keep the market tight. In its latest monthly Oil Market Report, published on 16 January, the IEA says: Anxious about the imminent seasonal reduction in...