Middle East Economic Survey

VOL. XLVIII

No 25

20-June-2005

OPEC Sees 2005 Global Demand Growth At 1.77Mn B/D, Up 2.2% On 2004

Global oil demand growth for 2005 is now estimated 2.2% or 1.77mn b/d in volume terms, bringing total oil demand in the year to an average 83.94mn b/d, according to OPEC. In its June Monthly Oil Market Report, OPEC said that preliminary figures for the first quarter indicated that the lions share of demand growth or nearly 50% of total global growth originated in...