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Oil price drops as IEA follows OPEC and cuts global oil demand forecast

Posted on 13 October 2011

Oil prices fell slightly Wednesday after a group of energy experts cut its forecast for global crude demand.
The International Energy Agency joined OPEC in trimming its demand forecasts for this year and 2012. The Paris-based IEA still expects world demand to hit a record this year, but more slowly than previously expected. The IEA’s outlook followed a similar one from the Organization of Petroleum Exporting Countries on Tuesday……………………………………….Full Article: Source


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