VOL. XLVII

No 21

24-May-2004

OPEC

OPEC Sees 2004 Oil Demand Growth At Seven-Year High Of 2.29%

Based on higher prospects for economic growth and continued strength in Chinas demand as well as those of the OECD and Developing Countries, OPEC has revised the average world oil demand forecast for 2004 up by 350,000 b/d to 80.40mn b/d, according to the May issue of the Monthly Oil Market Report. This compares with 80.05mn b/d presented in the April report, indicating a substantial 2.29% growth the...