Middle East Economic Survey

VOL. LIV

No 4

24-Jan-2011

SUPPLY/DEMAND

IEA Increases Demand Growth Forecast On Global Economic Rebound

The International Energy Agency (IEA) has increased its forecast for global oil demand in 2010 and 2011 by an average of 320,000 b/d. In its latest monthly Oil Market Report (OMR), released on 18 January, IEA said its upward revisions were based on higher than expected data submissions in all OECD regions and in key non-OECD areas (Asia, FSU and the Middle...