Special Report: Weak energy demand to persist through 2009

07/20/2009
Demand for oil will shrink this year—as will demand for almost all sources of energy in the US—because of economic contraction. Gas, coal, and nuclear energy demand will decline, but the use of hydroelectric power generation and all other renewable energy sources will grow from last year.Global oil demand will decline from 2008, led by a decrease in oil consumption by the world’s advanced economies.Production of crude and condensate in the US this year will increase, and imports will decline almost 6% from a year ago.Volumes of crude and products in storage are abundant and are expected to remain that way even though worldwide oil production this year is forecast to shri...
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