Middle East Economic Survey


No 46


EIA Trims Oil Demand Outlook On Lowered Economic Growth Assumption

The Energy Information Administration (EIA) of the US Department of Energy has reduced its expectation for oil demand growth by some 200,000 b/d in 2011 and 2012, citing lowered world economic growth assumptions. The 8 November issue of its monthly Short-Term Energy Outlook says that global GDP is now expected to grow by 3.1% in 2012 compared with 3.5% in its previous...