No 42



IEA Reduces Oil Demand Growth Forecast, Blaming High Prices And Slow Economic Recovery

The International Energy Agency (IEA) has reduced its oil demand growth forecasts for this year and next. In its latest monthly Oil Market Report, published on 11 October, the agency says: The assessment of global oil demand has been reduced by 50,000 b/d for 2002, to 76.64mn b/d, up 170,000 b/d on the year. The forecast of demand growth for 2003 has been reduced by...