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OGJ Newsletter

05/26/2008
General Interest — Quick TakesDeutsche Bank slashes 2008 oil demand outlookMajor investment bank Deutsche Bank has reduced its global oil demand growth forecast for this year to 840,000 b/d from 1.16 million b/d. This is lower than the latest growth estimates by the International Energy Agency, the US Energy Information Administration, and the Organization of Petroleum Exporting Countries.Even with the demand downgrade, Deutsche Bank’s call for OPEC crude rises 200,000 b/d due to slipping forecasts for non-OPEC supply growth.Oil is holding at over $125/bbl despite concerns of economic weakness and expectations of a strengthening US dollar.“The forecasting tug-of-war conti...
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