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Home / News / Today's Headlines / IEA Cuts Demand by Over 100,000 bpd in 2009

05.12.2008

IEA Cuts Demand by Over 100,000 bpd in 2009

By Alex Lawler, Reuters 

The International Energy Agency on Friday cut its forecast for world oil demand growth in 2009, the latest in a series of downward revisions in response to the weakening world economy.

Demand is expected to grow by 220,000 barrels per day (bpd) in 2009, the agency, which advises 28 industrialized countries, said in its Medium Term Oil Market Report.

The IEA's previous forecast, for demand growth of 350,000 bpd, was given in a monthly report on November 13.

- Copyright 2008, Reuters. All rights reserved. 

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