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Commodities Briefing - Categorized | Market Moves, Oil more

International Energy Agency cuts oil demand forecast

Posted on 14 November 2012

The International Energy Agency Tuesday cut its forecast for oil demand in the last quarter of this year and said the state of the global economy will limit consumption expansion in 2013.
In its monthly market report, the Paris-based energy watchdog for 28 industrialised nations including Ireland, downgraded its forecast for global oil demand by 290,000 barrels a day to 90.1m barrels a day as a result of economic weakness in Europe and the fallout from recent Hurricane Sandy in the US………………………………………..Full Article: Source


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