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IEA lowers world oil demand forecasts for 2006, 2007.
(From AFX Europe (Focus))
LONDON (AFX) - The International Energy Agency lowered its world oil product demand forecasts for 2006 and 2007 and said more transparency from policy makers would help reduce uncertainty and could, possibly, even reduce oil prices.
The Paris-based energy watchdog lowered its 2006 world oil product demand forecast by 100,000 barrels per day to 84.7 mln bpd and reduced its 2007 demand forecast by 160,000 bpd to 86.2 mln bpd.
The revisions imply a 1.3 pct oil demand growth rate for 2006 and a 1.8 pct demand …
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