Middle East Economic Survey


No 33


IEA Raises Forecast For 2010 And 2011 Crude Oil Demand

The International Energy Agency (IEA) revised upward its forecast for global oil demand for 2010 and 2011 to 86.6mn b/d and 87.9mn b/d respectively in the latest issue of its Oil Market Report (OMR), released on 11 August. Forecast for global demand for 2010 and 2011 is revised up by 80,000 b/d and 50,000 b/d, respectively, on slightly higher economic assumptions and baseline...