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OPEC lowers 2007 oil demand growth forecast


Published : Fri, 19 Jan 2007 14:58
By : Agencies
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LONDON (AFX) - The Organisation of Petroleum Exporting Countries lowered its 2007 oil demand growth forecast and reduced its 2006 oil demand growth estimate, saying warm weather continues to dampen demand for oil.

In its monthly report, OPEC said it now expects 2007 oil demand to grow at an annual rate of 1.5 pct or 1.25 mln bpd, representing a slight downward revision of 70,000 bpd from the last monthly report.

In 2006, the cartel said it now estimates oil demand grew at an annual rate of 1 pct or 0.8 mln bpd - a downward revision of 100,000 bpd from the last assessment.

maytaal.angel@afxnews.com

ma/ro

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