OGJ Newsletter

04/23/2001
Market MovementIEA lowers global oil demand forecastHow far can sagging economies drag down growth in oil demand? IEA again has lowered its estimate of global oil demand growth, for the fifth month running.In its April oil market report, IEA lowers its estimate of worldwide oil demand for 2001 to 76.7 million b/d, a cut of 85,000 b/d from its estimate a month earlier. This will put 2001 growth in oil demand at 1.325 million b/d compared with a jump of 580,000 b/d last year.IEA has reduced its assessment of this year's demand due partly to weaker than expected January deliveries in some countries. Also cited as a reason is the appearance that the slowdown in the US economy will be more...
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