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IEA cuts oil demand growth forecast

Posted on 12 April 2013

The International Energy Agency has revised down its estimate of European oil demand for the second consecutive month and warned that the Cypriot bailout is weighing on the continent’s demand for oil.
“Every time the weakness of Europe’s economy or the severity of its debt crisis has hit the news, that has tended to translate into a small hit to oil consumption,” said Antoine Halff, head of the IEA’s oil markets division……………………………………..Full Article: Source


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