Tuesday, June 12, 2007

IEA raises world oil demand forecast, ups pressure on OPEC

(Reuters) - World oil demand will rise more quickly than previously thought this year, the International Energy Agency said on Tuesday, adding weight to consumer nations' calls for more OPEC oil.

In its June monthly report, the adviser to 26 industrialised countries lifted its forecast for 2007 growth in world oil demand to 1.7 million barrels per day (bpd) or two percent, up 200,000 bpd from the previous forecast.


Read more at Reuters Africa

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