Middle East Economic Survey

VOL. XLVII

No 50

13-December-2004

SUPPLY/DEMAND

EIA Reduces 2004 Oil Demand Growth Forecast To 2.6Mn B/D

The Energy Information Administration (EIA) of the US Department of Energy has reduced its forecast for 2004 global oil demand growth by 200,000 b/d partly in response to high oil prices. In the latest monthly Short-Term Energy Outlook, published on 7 December, the EIA says: World petroleum demand growth for 2004 has been revised downwards slightly from the previous ...