As crude prices keep inching upward, the threat to both the U.S. and global economy is clear. While OPEC says don’t blame us, the Interational Energy Agencys says: “This is a wake-up call to the oil-consuming countries and to t…
World demand for oil will increase in the final months of 2010, but will be lower than expected in 2011, The International Energy Agency said.
The IEA cut its forecast for 2011 demand to 1.21 million barrels per day, from 1.27 million bpd, Reuters reported. The agency also increased its estimate for 2010 by 260,00 bpd, citing factors such as heating oil restocking.
“The market…
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World Oil Demand Will Be Lower Than Expected in 2011 originally appeared on DailyFinance on Wed, 13 Oct 2010 08:30:00.