No 45



IEA Outlook To 2030 Sees Reduced Reliance On OPEC Oil Supplies

In its recently published World Energy Outlook 2002 (WEO 2002), the International Energy Agency (IEA) predicts that global oil demand will rise at an even pace of about 1.6% a year from 75mn b/d in 2000 to 120mn b/d in 2030 (MEES, 30 September). However, the reports detailed supply/demand projections are not all good news for OPEC producers, with the latest forecast reducing OPECs projected output...