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Report: Global Oil Demand Grows More Slowly

Posted January 18th, 2012 at 6:40 am (UTC-5)
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The International Energy Agency says a slowing global economy means demand for oil will not grow as much as earlier thought. In Wednesday’s report, IEA experts say demand for crude oil fell 300,000 barrels a day in the last few months of 2011, the first such drop since 2009, during the financial crisis. The agency […]

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OPEC Cuts Oil Demand Forecast Through 2012

Posted August 9th, 2011 at 2:20 pm (UTC-5)
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The oil-producing cartel OPEC is cutting its forecast for the amount of oil the world is likely to consume through next year. The Organization of the Petroleum Exporting Countries said Tuesday that as the global economic recovery loses momentum, countries around the world will use less oil. OPEC said economic “dark clouds” are already affecting […]

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