OIL PRICES/SUPPLY DEMAND

 

IEA Sees Oil Demand Growth Below 1Mn B/D For 2012, 2013

The International Energy Agency (IEA) reduced its forecast for global oil demand growth in 2012 and 2013 in its latest Oil Market Report (OMR), released on 10 August. Citing a weak economic backdrop, the agency said: “Sub-1mn b/d demand growth is envisaged in both years – to 89.6mn b/d in 2012 and 90.5mn b/d in 2013. The associated macroeconomic framework assumes...