Middle East Economic Survey


No 29



IEA Predicts Record Oil Demand Growth Of 2.5Mn B/D In 2004 And 1.8Mn B/d In 2005

The International Energy Agency (IEA) has revised upwards its forecast of world oil demand growth for the ninth month in succession, to a record 2.5mn b/d for this year, as the pattern of soaring non-OECD consumption continues. In its latest monthly Oil Market Report, published on 13 July, the IEA also presents its first estimates for 2005,...