Energy News

Energy agency revises downward global oil demand

Sep 12, 2006, 9:07 GMT

Paris - Due largely to a smaller rise in consummation than foreseen in the United States and Mexico, global oil demand will grow less than expected this year and in 2007, the International Energy Agency (IEA) said in its Monthly Oil Report, issued on Tuesday. 'Global oil demand has been adjusted downwards by 100,000 barrels per day (bpd), to 84.7 million bpd in 2006, and by 160,000 bpd, to 86.2 million bpd in 2007,' the Paris-based IEA said. North America accounted for most of the change, 'with large revisions to both US and Mexican demand,' the agency reported. In addition, Asian demand was 'dampened' by milder, rainy weather. © 2006 dpa - Deutsche Presse-Agentur

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