VOL. XLVII

No 16

19-April-2004

SUPPLY/DEMAND

EIA Increases 2004 Oil Demand Growth Forecast To 1.6Mn B/D

The Energy Information Administration (EIA) of the US Department of Energy has raised its estimate of global oil demand growth for 2004 to 1.6mn b/d. In its latest monthly Short-Term Energy Outlook, published on 8 April, the EIA predicts that this years oil demand average would be 80.7mn b/d, rising to 82.5mn b/d in 2005. However, upward revisions to estimates of non-OPEC crude supplies and OPEC...