Middle East Economic Survey


No 46



EIA Raises 2004 Oil Demand Growth Forecast To 2.8Mn B/D

The Energy Information Administration (EIA) of the US Department of Energy has raised its expectations for oil demand growth this year, and predicts that global demand will rise from 79.7mn b/d in 2003 to 82.5mn b/d in 2004 and 84.5mn b/d in 2005. In the latest monthly Short-Term Energy Outlook, published on 9 November, the EIA says: World petroleum demand growth for...