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China, India may boost 2009 oil prices - IEA

Posted on 31 October 2008

From Reuters: Emerging markets such as China and India could make up for declining oil demand from developed countries and may be the cause for demand growth in 2009, the International Energy Agency’s chief economist said on Thursday.

The IEA cut its 2008 oil demand growth forecast by 250,000 barrels per day to 440,000 bpd earlier this month, but said 2009 growth would depend on whether countries like India and China go into a recession as deep or as fast as developed countries….. Full Article: Source


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