ED RICHARDSON AFRICAN OIL producers are expected to increase their share of the world crude oil market as consumption continues to grow at a “breakneck pace” despite record high prices, predicts the International Energy Agency (IEA). In its August assessment of the oil market, the IEA predicts that oil demand will grow by nearly 2.5 million barrels a day (mb/d), or 3.2%, in 2004. A further gain of 1.82 mb/d, or 2.2%, is expected for 2005.
