No 11



EIA Forecasts Global Oil Demand Increase Of 1.4Mn B/D In 2004

The Energy Information Administration (EIA) of the US Department of Energy predicts that global oil demand will rise by 1.4mn b/d to an average 80.5mn b/d in 2004, and by a further 1.7mn b/d to 82.2mn b/d in 2005. In the latest monthly Short-Term Energy Outlook, published on 9 March the EIA says: World oil demand is projected to continue growing by nearly 2% in 2004 and 2005 after posting a...