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IEA expects drop in 2014 oil demand

: Sunday, July 13 - 2014 @ 00:12

The International Energy Agency (IEA) has said that global oil demand this year is expected to grow by 1.2 million barrels per day (mbpd) to average 92.7 mbpd in 2014, slightly lower than forecasts a month ago, Kuna has reported. Demand on oil in 2014 would likely be 130,000 bpd lower largely because of “weaker than expected mid-year economic data,” due to slower macroeconomic growth worldwide, the IEA report said. However, the demand growth is predicted to accelerate further in 2015, rising around 1.4 mbpd to 94.1 mbpd, it said.

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Sunday, July 13- 2014 @ 0:12 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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