Middle East Economic Survey

VOL. LIV

No 12

21-Mar-2011

SUPPLY /DEMAND

IEA Sees Oil Market Volatility Boosting Downside Risk In Demand Outlook

Political risk in the Middle East and North Africa has injected volatility into futures markets, with prices gyrating by an average $3/B daily, says the International Energy Agency (IEA). In the latest monthly Oil Market Report, published on 15 March, the IEA observes that while global oil product demand growth remains largely unchanged at 2.9mn b/d in...