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IAE to slash oil demand forecast
- Middle East: Tuesday, November 11 - 2008 at 10:39
The International Energy Agency may cut its 2009 oil demand forecast for a third month as fuel consumption continues to wane due to recession fears, Bloomber has reported. The IEA will reduce the estimated growth in global demand from 700,000 barrels a day, or 0.8%, in its next monthly report on Nov. 13, said four analysts who used to work at the IEA and are now at banks. The International Monetary Fund last week warned of the first simultaneous recession in the US, Japan and Europe in more than 60 years.
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Jeff Florian, Senior ReporterTuesday, November 11 - 2008 at 10:39 UAE local time (GMT+4)
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