Middle East Economic Survey

VOL. XLVII

No 34

23-August-2004

OPEC

OPEC Sees OECD Economic Growth Unchanged But Revises Historic Demand Estimates

Despite an easing in economic growth in the US and China in latest data published for 2004, the consolidation of the Eurozone recovery and a balanced recovery in Japan have contrived to keep OPECs forecast for OECD economic growth at 3.5% for 2004. In its August Monthly Oil Market Report, OPEC said that its forecasts for 2005 imply a return to more normal...