SUPPLY DEMAND
IEA Holds 2012 Demand Outlook Steady, Raises Price Assumption
The International Energy Agency (IEA) forecast global oil demand at 89.9mn b/d for 2012, up by 800,000 b/d (0.9%) over 2011 and little changed from the previous outlook. In its latest monthly Oil Market Report, the Paris-based agency said the negative influence of a higher price assumption counteracts stronger baseline demand. “Given the recent gains seen in oil prices, the demand projections now incorporate...
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