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Sunday, September 14, 2014

The International Energy Agency(IEA) has lowered its forecast for global oil demand growth.

IEA for the third month in a row, calling the recent slowdown in demand "nothing short of remarkable." The IEA now foresees global oil demand growth of 900K bbl/day in 2014, a decrease of 65K bbl/day vs. last month's forecast and down by 300K bbl/day since July. The agency now expects oil demand to rise by 1.2M bbl/day next year, but that's 100K bbl/day less than it forecast last month.

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