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Weak economy cuts more into global oil demand: EIA

Posted on 11 February 2009

From Reuters: The U.S. government’s top energy forecasting agency on Tuesday lowered its estimate for world oil demand in 2009 by 400,000 barrels per day, citing the slower global economy.

With major economies languishing in recession, the Energy Information Administration predicted world oil demand for 2009 would fall by 1.17 million bpd from last year to 84.70 million bpd. That would be down from peak demand of 85.9 million bpd in 2007….. Full Article: Source


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