VOL. XLV

No 20

20-May-2002

SUPPLY/DEMAND

IEA Sees Weak Demand Yet Calls For MoreProduction

Theworld economic recession appears to have bottomed out and the global economy ison the road to recovery, according to the International Energy Agency (IEA). Inthe latest monthly Oil Market Report, published on 13 May, the IEA saysthat data from the worlds largest economy support this view: First quarter2002 US GDP rose by an astounding 5.8% over year-previous levels. Coupled withtarget reductions, oil...