Middle East Economic Survey
VOL. XLVIII
No 29
18-July-2005
IEA Reduces 2005 Oil Demand Growth Forecast On Weaker China And US Outlook
The International Energy Agency (IEA) has reduced its forecast for 2005 oil demand growth by 200,000 b/d to 1.58mn b/d because of a weaker outlook for Chinese and US consumption. However, in the latest monthlyOil Market Report, published on 13 July, the IEA gives its first detailed forecast for 2006, predicting demand growth of 1.75mn b/d: A 1.34mn b/d increase in...
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