VOL. XLVI
No 29
21-July-2003
SUPPLY/DEMAND
IEA Expects Strong Non-OPEC Supply Growth In 2004
Economic recovery and easing oil prices are expected to boost global demand by 1.0mn b/d in 2004 to 79.08mn b/d, according to the International Energy Agency (IEA). In its latest monthly Oil Market Report, published on 11 July, the IEA provided its first estimates for 2004 supply and demand, anticipating additional growth in non-OPEC production squeezing OPEC supplies even further: Non-OPEC production is...
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