VOL. XLVI

No 4

27-January-2003

SUPPLY/DEMAND

IEA Sees Oil Demand Gathering Momentum

The International Energy Agency (IEA) sees the recovery in oil demand gathering momentum, despite the subdued pace of the global economic recovery, although it maintains its forecast of 2003 demand growth at just over 1mn b/d. In the latest edition of its monthlyOil Market Report, published on 17 January, the IEA says: Global oil demand grew faster than expected in late 2002, driven by cold weather, low Japanese...