Middle East Economic Survey
VOL. XLVII
No 30
26-July-2004
OPEC
SUPPLY AND DEMAND
OPEC Revises World Oil Demand Growth Upwards To 2.1Mn B/D In 2004
With projected 4.8% world economic growth for 2004, total oil demand is now estimated to grow by 2.1mn b/d or 2.67% to average 80.9mn b/d, according to OPECs July Monthly Oil Market Report. This is an upward revision of 200,000 b/d from the June figure. OPECs quarterly preliminary data shows that oil demand in OECD countries will gain 420,000 b/d in the...
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