No. 21



IEA Blames Sixth Successive Demand Growth Forecast Cut On High Prices And Economic Slowdown

The International Energy Agency (IEA) has reduced its forecast of oil demand growth in 2001 for the sixth month running, this time trimming it by a further 160,000 b/d to just over 1mn b/d. In its latest Monthly Oil Market Report, published on 11 May, the IEA attributes its latest reduction to lower than expected first quarter deliveries and the effect of...