VOL. XLIV

No. 29

16-July-2001

SUPPLY/DEMAND

MarketsWell Balanced As IEA Slashes Demand Forecast

Before the International EnergyAgency (IEA) published its latest MonthlyOil Market Report on 13 July, markets appeared well balanced in readinessfor the usual rise in demand as winter approaches. However, the IEA is likelyto have turned many expectations inside out by revising its forecast of demandgrowth for the year downwards by more than 500,000 b/d. While demand is stillexpected to grow in the...