Middle East Economic Survey

VOL. XLVII

No 33

16-August-2004

SUPPLY/DEMAND

IEA Maintains Buoyant Demand Growth Forecast

The International Energy Agency (IEA) has maintained its global oil demand growth forecast of 2.5mn b/d for 2004 and 1.8mn b/d for 2005, but has raised its forecast demand levels by around 700,000-800,000 b/d compared with its previous forecast (MEES, 19 July). In its latest monthly Oil Market Report, published on 11 August, the IEA says: Revisions to historical demand lift the...