Middle East Economic Survey

VOL. XLVII

No 24

14-June-2004

SUPPLY/DEMAND

EIA Raises Oil Demand Growth Forecast To More Than 2Mn B/D In Both 2004 And 2005

The Energy Information Administration (EIA) of the US Department of Energy has increased significantly its demand growth outlook, predicting that global oil demand growth for 2004 will be 2.1mn b/d, with a further increase of 2.2mn b/d expected in 2005. In its latest monthly Short-Term Energy Outlook, published on 8 June, the EIA forecasts that...