Middle East Economic Survey


No 51



IEA Lifts Global Demand Forecast To 87.4Mn B/D In 2010, 88.8Mn B/D In 2011

The International Energy Agency (IEA) has again increased its forecast for global oil demand in 2010 and 2011. In its latest monthly Oil Market Report (OMR), the IEA made respective upward revisions of 130,000 b/d and 260,000 b/d for demand this year and next. Global oil demand is now estimated at 87.4mn b/d (+2.9% or 2.5mn b/d year-on-year), and is...