VOL. XLIV

No 46

12-November-2001

OPEC

OPECSees World Oil Demand Contraction In 3Q, 4Q 2001

Ongoingdownwards revisions to global economic growth rates and a sharp downturn in jetfuel demand after the 11 September attacks has led OPEC to cut its projectionsfor global oil demand in 2001, with third and fourth quarter demand nowexpected to experience negative growth. According to OPECs October MonthlyOil Market Report, consumption for the full year is now expected to rise by0.22mn b/d or 0.29% to...