VOL. XLVI

No 3

20-January-2003

ENERGY FINANCE

Oil Demand To Grow At 0.6% In 2003, Says Salomon Smith Barney

Global oil demand is expected to grow by 0.6% in 2003, assuming global GDP growth of 3% in the year compared to GDP growth of 2% in 2002, according to an integrated oil research note issued on 4 December by Paul Ting of Salomon Smith Barney. The paper, which analyses oil demand and the relationship between oil consumption, GDP, OPEC and oil prices, says that traditionally, a one percentage...