VOL. XLVII

No 20

17-May-2004

SUPPLY/DEMAND

EIA Raises Demand Forecast To 81.1Mn B/D For 2004

The Energy Information Administration (EIA) of the US Department of Energy has raised its forecasts for worldwide oil demand, predicting that consumption will increase by 1.6mn b/d to an average 81.1mn b/d this year and by a further 1.9mn b/d to 83.0mn b/d in 2005. In the latest monthly Short-Term Energy Outlook, published on 11 May, the EIA says: EIA has upwardly revised its estimates of both world oil...