SUPPLY DEMAND

IEA Forecast Little Changed With 2012 Demand Seen At 89.9Mn B/D

The International Energy Agency (IEA) said the world is likely to see relatively modest expansion in oil product consumption in 2012, as a subdued economic backdrop coincides with relatively high oil prices. The latest issue of the monthly Oil Market Report (OMR), released on 14 March, cited the IMF’s January World Economic Outlook, which said global economic growth would decelerate to 3.3% in 2012, from...