| World oil demand has overcome earlier expectations of a declining momentum and moved to a more stabilized trend, supported by the summer driving season, the summer heat, and the continued shutdown of most of Japan's nuclear capacity. As a result, the forecast for global oil demand growth in 2012 remains unchanged at 0.9 mb/d, the Organization of Petroleum Exporting Countries (OPEC) said Wednesday in its "Monthly Oil Market Report" for the month of August 2012.
There is considerable uncertainty surrounding the forecast for world oil demand growth in 2013, which remains unchanged at 0.8 mb/d. Nonetheless, risks are currently seen to be skewed to the downside...............................................Full Article: Source
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