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IEA ups forecast for 2008 world oil demand by 115,000 bpd

 

 

PARIS
Petroleumworld.com 12 17 07

The International Energy Agency on Friday raised its forecast for world oil demand for next year by 115,000 barrels per day because of demand from emerging economies.

But the agency, the developed world's energy watchdog, lowered its 2007 world oil demand forecast due to lower-than-expected heating fuel consumption in North America and in Europe.

The IEA's monthly report also that supply-demand balances for winter have "clearly improved" but warned that the market is still on edge, as indicated by oil prices, which are still around 90 dollars a barrel.

Story from AFP 14 0916 GMT 12 07



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