OPEC has cut its global oil demand growth forecast by about 100,000 barrels a day for 2012, a delegate said Monday.
OPEC has cut its global oil demand growth forecast by about 100,000
barrels a day for 2012, a delegate said Monday.
The downgrade is likely to complicate a meeting Wednesday of the Organization
of Petroleum Exporting Countries to discuss its production policy.
At OPEC's Economic Commission Board meeting, under way Monday, "it was
stated world oil demand is expected to grow by 1.1 million barrels a day to
average 88.9 million barrels a day," the delegate said. That
"represents a downward revision of 0.1 million barrels a day from the
previous assessment," the delegate said.
The Economic Commission Board, which gathers national advisers ahead of OPEC's
ministerial meeting, discusses numbers provided by the OPEC secretariat, which
are used as informal guidance for its members.
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