VOL. XLV

No 33

19-August-2002

SUPPLY/DEMAND

IEA Cuts 2002 Demand Growth Forecast To 200,000 B/D

Blaming weaker than expected firsthalf OECD oil demand, the International Energy Agency (IEA) has trimmed itsforecast of 2002 demand growth by 50,000 b/d to 200,000 b/d. In the latest monthly OilMarket Report, published on 9 August, the agency maintains its forecastdemand growth for 2003 at 1.1mn b/d. The report is characterized by majorrevisions to non-OECD demand data, affecting figures from 2000...