13.10.2011 - Oil price drops as IEA follows OPEC and cuts global oil demand forecast

Oil prices fell slightly Wednesday after a group of energy experts cut its forecast for global crude demand. The International Energy Agency joined OPEC in trimming its demand forecasts for this year and 2012. The Paris-based IEA still expects world demand to hit a record this year, but more slowly than previously expected. The IEA's outlook followed a similar one from the Organization of Petroleum Exporting Countries on Tuesday..............................................Full Article: Source

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