VOL. XLVII

No 07

16-February-2004

SUPPLY/DEMAND

IEA Raises 2004 Oil Demand Growth Forecast To 1.4Mn B/D

The International Energy Agency (IEA) has raised its prediction for 2004 demand growth by 220,000 b/d to 1.4mn b/d. In its latest monthly Oil Market Report, published on 11 February, the agency explains: Growth is surging in some developing economies, led in part by Chinese economic expansion, but temporarily slowing in the OECD, where the reversal of one-off factors that lifted demand last...