OGJ Newsletter

09/15/2008
General Interest — Quick TakesIEA cuts 2008, 2009 world oil demand forecastsThe International Energy Agency has reduced its outlook for 2008 and 2009 world oil demand, citing weaker-than-expected oil deliveries in member countries of the Organization for Economic Cooperation and Development.In its latest monthly Oil Market Report IEA says that worldwide oil demand will average 86.8 million b/d this year. This is revised from the agency’s previous forecast of 86.9 million b/d.And IEA now sees 2009 oil demand averaging 87.6 million b/d, down from the estimate of 87.8 million b/d released a month ago.Oil demand in the OECD will average 48.4 million b/d in 2008, down 800,000 b/d fr...
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