VOL. XLIV

No 30

23-July-2001

SUPPLY/DEMAND

IEAs RevisedDemand Forecast Constrains OPEC, Says Horsnell

The International Energy Agencys drastic downwardsrevision of forecast oil demand growth for 2001 to 460,000 b/d limits theoptions for OPEC, potentially making the organization overly-cautious at a timewhen demand could increase rapidly, according to Paul Horsnell, Head ofEconomic and Policy Research at JP Morgan. In an Oil Market report on 13 July, Mr Horsnell says that the IEAsrevisions to its...