Arab Today, arab today iea curbs global oil demand forecast as prices continue to ease
Last Updated : GMT 05:19:39
Arab Today, arab today
Arab Today, arab today

IEA curbs global oil demand forecast as prices continue to ease

Arab Today, arab today

Arab Today, arab today IEA curbs global oil demand forecast as prices continue to ease

The International Energy Agency
Paris - KUNA

Global oil demand growth is forecast to rise by only 900,000 barrels per day (bpd) in 2015 to reach 93.3 million bpd, a cut back of 230,000 bpd from growth predictions a month earlier, the International Energy Agency (IEA) said on Friday.
In its latest "Oil Market Report (OMR)" for November, the energy agency said that the downward revision was based on predictions for lower demand in "the former Soviet Union (FSU) and other oil exporting countries." The report added that the rising strength of the dollar and the removal of price subsidies are also bringing down demand growth.
Given factors today, the agency also said that overall demand in 2014 is predicted to average 92.4 mbpd.
The IEA also noted that "oil prices continued to plunge in November and into early December...Brent was last trading at a five-year low of USD 64.05 per barrel, down 40 percent from June and WTI at USD 60.45 per barrel." Global production in November fell slightly by 340,000 b/d and was pegged at 94.1 mbpd by the Paris-based IEA.
Year-on-year production gains of 2.1 mbpd in November were split evenly by OPEC and non-OPEC producers and OPEC's monthly production was estimated at 30.32 mbpd, a decline of 315,000 b/d from Ocotber. The "call on OPEC crude" and inventory change is now revised downwards to 28.9 mbpd, a drop of 300,000 b/d, the OMR indicated.
In the lower-price environment, stock levels in the industrialised OECD countries rose to their highest levels in more than two years and were built up "counter-seasonally" to 2.72 billion barrels, the IEA said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iea curbs global oil demand forecast as prices continue to ease Arab Today, arab today iea curbs global oil demand forecast as prices continue to ease

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iea curbs global oil demand forecast as prices continue to ease Arab Today, arab today iea curbs global oil demand forecast as prices continue to ease

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday