SUPPLY DEMAND
IEA Reduces 2012 Demand Estimate To 89.9Mn B/D Amid Economic Concerns
The International Energy Agency (IEA) reduced its demand growth forecast for 2012 by 100,000 b/d to 89.9mn b/d, but said baseline revisions leave growth unchanged at 800,000 b/d for the year. In its latest Oil Market Report, released on 13 June, the IEA said the “springtime slump in oil market accelerated in May in the wake of the deepening Eurozone crisis, mounting...
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