No 33



IEA Raises 2003 Demand Growth Forecast To 1.11Mn B/D

The International Energy Agency (IEA) has increased its estimate for 2003 demand growth in the light of rising consumption in the Asian and Europe markets, although it notes falling US demand. In its latest monthly Oil Market Report, published on 11 August, the agency observes: The forecast of global oil demand growth for 2003 has been raised by 100,000 b/d to 1.11mn b/d, reflecting Chinas quicker...