IEA Revises Demand Forecast Downwards And Stocks Data Significantly Upwards
The International Energy Agency (IEA) has cut its demand forecast for the fourth month in a row, and now expects worldwide oil demand will grow by 1.41mn b/d this year. This compares with last months prediction of a 1.52mn b/d increase in 2001, itself down from 1.9mn b/d as recently as December (MEES, 19 February). In its latest Monthly Oil Market Report, published on 14 March,...
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