IEA cuts 2006 oil demand growth estimate, lowers 2007 demand growth forecast |
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Thu, 18 Jan 2007 10:30
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LONDON (AFX) - The International Energy Agency cut its 2006 world oil demand growth estimate and lowered its forecast for 2007 oil demand growth, citing large revisions to US data, mild weather and lower US GDP forecasts.The energy watchdog said in a monthly report it now estimates oil product demand grew by 0.9 pct last year to total 84.4 mln bpd - representing a downward revision of 120,000 bpd from the last monthly report.For 2007, the IEA sees oil product demand growing by an annual 1.6 pct to total 85.8 mln bpd - representing a 160,000 bpd downward revision from the previous report.maytaal.angel@afxnews.comma/rarCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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