Middle East Economic Survey

VOL. XLVII

No 42

18-October-2004

SUPPLY/DEMAND

IEA Raises Both 2004 Demand And Demand Growth Forecasts

The International Energy Agency (IEA) has raised its forecasts for both 2004 demand and demand growth, but reduced predictions for both in 2005. In the latest monthly Oil Market Report, published on 12 October, the IEA says: The global oil demand forecast has been raised by 240,000 b/d for 2004 to 82.4mn b/d, but trimmed by 70,000 b/d for 2005 to 83.9mn b/d. The cut...