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Sunday, November 29 - 2009

World oil supplies to stay tight

  • Middle East: Wednesday, July 02 - 2008 at 07:34

In a report that signals little relief from high oil prices, the International Energy Agency said world oil supply will rise more slowly than expected by 2013, leaving little spare capacity on the market despite weaker demand growth, reported Reuters. The report said global supply capacity will reach 95.33 million barrels per day by 2012, some 2.7 million bpd less than its previous forecast a year ago.

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