VOL. XLV

No 29

22-July-2002

SUPPLY/DEMAND

IEA Predicts Strong Demand Growth In2003 But Revises 2002 Figures Significantly Downwards

The InternationalEnergy Agency (IEA) has predicted that oil demand growth will be 1.1mn b/d in2003, ending several years of anemic growth. However, in the latest monthlyOil Market Report, published on 12 July, the agency reduces this yearsoverall demand figures significantly, lowering its overall 2002 demand figureby 400,000 b/d, keeping its 1Q02 figure unchanged,...