VOL. XLVII

No 16

19-April-2004

SUPPLY/DEMAND

IEA Demand Growth Raised Slightly On Strong Chinese Consumption

The International Energy Agency (IEA) has increased its forecast for 2004 oil demand growth by 30,000 b/d to 1.68mn b/d and lowered its prediction for the 2Q04 seasonal demand dip. In its latest monthly Oil Market Report, published on 9 April, the IEA attributes the slightly stronger demand growth outlook to surging Chinese demand, which has outweighed lower than expected deliveries in...