No 50



IEA Raises Current Demand Estimates But Further Reduces 2003 Call On OPEC

The International Energy Agency (IEA) has raised its estimate of current demand, but reduced its call on OPEC crude for 2003 by a further 100,000 b/d in the face of rising non-OPEC output. In its latest monthly Oil Market Report, published on 11 December, the IEA says: Global demand growth has been raised by 260,000 b/d for the third quarter and 370,000 b/d for the fourth...