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Commodities Briefing - Categorized | Market Moves, Oil more

IEA: Gobal oil demand to rise to 92.4 mln bpd in 2014

Posted on 13 December 2013

The International Energy Agency revised its global oil demand forecast for 2014 to 92.4 million barrels per day, up 1.2 million from 2013, Bloomberg reported. The IEA attributed this 1.3 percent rise to strong U.S. oil consumption post-recession. The agency also anticipated that Iranian exports could bounce back.
On Nov. 24, six countries and Iran made an agreement that in exchange for Tehran reducing the size of its nuclear program, international restrictions will be relaxed partially, according to The Wall Street Journal. For November, Iran oil production rose 89,000 bpd to 850,000 bpd with shipments to China and Taiwan………………………………………..Full Article: Source


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