VOL. XLVI

No 50

15-December-2003

SUPPLY/DEMAND

IEA Increases Demand Growth Forecast But Slashes Call On OPEC

The International Energy Agency (IEA) has for the second month running increased its estimates for growth in global crude consumption. In the latest monthly Oil Market Report, published on 10 December, the agency says: Demand growth has been revised upwards by 160,000 b/d for 2003 and 90,000 b/d for 2004, reflecting faster economic recovery, soaring Chinese demand and fuel switching into...