IEA cuts down 2010 demand growth forecast for crude

 

Global oil demand growth this year will be slightly slower than previously expected, the International Energy Agency (IEA) said yesterday, lowering its forecast by 50,000 barrels per day to 1.62 million bpd from its estimate last month.
David Fyfe, head of the IEA's Oil Industry and Markets Division, said the downward revision was in response to new historical data and that demand from emerging markets would continue to push up the world's oil use.
 
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