VOL. XLVII

No 20

17-May-2004

SUPPLY/DEMAND

IEA Revises 2004 Demand Growth Forecast Up To 1.95Mn B/D As Global Consumption Soars

After significant revisions to both oil demand and supply estimates, the International Energy Agency (IEA) has revised upwards both its near-term demand growth forecast and its estimated call on OPEC crude. In the latest monthly Oil Market Report, published on 12 May, the IEA says: Global demand in 2004 has been revised up by 330,000 b/d to 80.6mn b/d, putting growth...