No 08



OPEC Revises World Oil Demand Higher In 2003 And 2004

OPEC has revised its estimate of global oil demand in 2003 higher by 100,000 b/d to 78.51mn b/d due to upward revisions of 70,000 b/d in 3Q03 and 300,000 b/d in 4Q03, according to the February issue of the organizations Monthly Oil Market Report. The report said the upwards revisions were due to higher than expected consumption in the US and upwards revisions to China and FSU economic growth. OPEC also...