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Market Movement Click here to enlarge imageIEA trims demand growth outlookIEA again has slashed its projections for 2001 oil demand growth. Weakness in consumer demand and industrial output will limit growth of petroleum demand to less than 500,000 b/d this year. Demand growth is now expected to be just 460,000 b/d. IEA does, however, expect the US economy to stage a turnaround by the end of this year and estimates that demand for petroleum will grow next year by 800,000 b/d, most of which is expected to occur in the US, followed by China and the Middle East.The agency warns that this figure is contingent on prices, though, as lower oil prices would both stimulate consumer demand and sup...

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