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You are here: Home → Archive → 2009 → July → Weekly Edition 2nd of July 2009 → Energy agency slashes oil forecast

Energy agency slashes oil forecast

by Martyn Wingrove — last modified Jul 03, 2009 04:39 PM

THE International Energy Agency has slashed its forecast for global oil demand growth because of the worldwide economic recession.

The Paris-based organisation now expects global oil consumption will increase on average by 0.6% per year to 2014, half the rate rise it forecast at the end of last year.
Demand would climb by more than 500,000 barrels per day...

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