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Commodities Briefing - Categorized | Energy, Oil more

IEA’s signals mixed, but it sees a definite rise in demand

Posted on 14 December 2012

The International Energy Agency provided a characteristically mixed bag of monthly oil market indicators this week, with key themes of an outlook for higher oil demand running parallel to apparent market oversupply.
The report’s headline forecasts of higher than expected oil demand in Q4 and next year were tempered with comments of continued “sluggish” global economic growth. Next year’s oil demand expectations were raised by 110,000 b/d to 90.5 million b/d. Meanwhile, Q4 demand was hiked by 435,000 b/d more than forecast last month. By way of contrast, the IEA had previously slashed its Q4 oil demand estimate by combined 800,000 b/d since June………………………………………..Full Article: Source

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