Middle East Economic Survey


No 20


OPEC Holds Demand Outlook Steady, Sees Risk To Downside

OPEC has held its forecast for 2010 global oil demand growth steady at 900,000 b/d, following a contraction of 1.5mn b/d in 2009. In the latest Monthly Oil Market Report, published on 11 May, OPEC said: Although the economic recovery shows signs of improving momentum, important risks remain that could impact demand growth expectations for this year. China has been among the main drivers...