No 25



BP Sees Oil Markets RebalancingAfter Flat 2001

Worldenergy consumption grew by only 0.3% in 2001, the fourth year out of the lastfive when consumption growth has been significantly below the decade trend rateof almost 2% a year, according to BP Chief Economist Peter Davies. Launchingthe BP Statistical Review of World Energy 2002 on 18 June, he said: Toa large degree this is not surprising. Low economic growth and high energyprices can be expected to...