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IEA cuts 2012 global oil demand growth forecast

LONDON (MarketWatch)
The International Energy Agency said on Wednesday that it expects global oil demand to grow by 1.1 million barrels a day in 2012, which is lower than its previous estimate of 1.3 million barrels a day
 "Clear signs of economic weakness tipped global oil demand into a declining year-on-year trend at the end of 2011, down 0.3 mb/d in [the fourth quarter of 2011], its first such drop since the tailend of the credit crunch," the IEA said in its monthly oil market report released on Wednesday
The significantly lower starting point led the agency to reduce its estimate for 2012.
Posted by Unknown at miércoles, enero 18, 2012

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