Global Oil Demand to Drop First Time Since 1983
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Sunday, 14 December 2008 |
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According to the International Energy Agency, global oil demand will
have dropped in 2008 for the first time since 1983 by 200.000 barrels
per day.
Previously the International Energy Agency had forecasted a figure of 86.2m bpd. This has now been revised down to 85.8 million barrels per day. “In 2009 demand will grow again to a downward adjusted 86.3 mb/d. This forecast is based on the IMF assumption that the global economy will gradually recover from 2009”, adds the report.
The reduction in demand is concentrated in developed economies in the Organization for Economic Cooperation and Development, where oil use will tumble 3.3%. Next year’s growth may be wiped out if the economic slump deepens, the agency said.
PetrolWorld 13th December 2008
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