VOL. XLVI

No 42

20-October-2003

SUPPLY/DEMAND

IEA Predicts 4Q Heating Oil Demand Recovery

The International Energy Agency (IEA) predicts that global oil demand will average 78.37mn b/d in 2003 and 79.43mn b/d in 2004, maintaining its forecast largely unchanged from last month (MEES, 15 September). In its latest monthly Oil Market Report, published on 10 October, the IEA says: A counter-seasonal contraction in heating oil deliveries lowered the assessment of OECD demand for the third quarter, but...