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April 11 (Bloomberg) -- The International Energy Agency
reduced its forecasts for global oil demand in 2013 for a third
consecutive month, predicting the weakest consumption in Europe
in almost three decades.
The IEA cut its estimate by 45,000 barrels a day,
predicting that world consumption will increase by a “subdued”
795,000 barrels a day, or 0.9 percent, to 90.58 million barrels
a day this year. European demand will slump by 330,000 barrels a
day. Still, an imminent recovery in refinery operations after
maintenance and political threats to supply mean “it may be too
early to call a bear market,” the IEA said.
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IEA Cuts Oil-Demand Forecast
Posted by hazbin1 on 11th of Apr 2013 at 01:38 pm
April 11 (Bloomberg) -- The International Energy Agency
reduced its forecasts for global oil demand in 2013 for a third
consecutive month, predicting the weakest consumption in Europe
in almost three decades.
The IEA cut its estimate by 45,000 barrels a day,
predicting that world consumption will increase by a “subdued”
795,000 barrels a day, or 0.9 percent, to 90.58 million barrels
a day this year. European demand will slump by 330,000 barrels a
day. Still, an imminent recovery in refinery operations after
maintenance and political threats to supply mean “it may be too
early to call a bear market,” the IEA said.