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OPEC: Europe’s Debt Crisis Could Cut 2012 Oil Consumption

Posted January 16th, 2012 at 3:25 pm (UTC-5)
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The Organization of Petroleum Exporting Countries says the ongoing European governmental debt crisis could cut global oil consumption this year. OPEC on Monday left its forecast for 2012 oil demand unchanged at nearly 89 million barrels a day. But the 12-nation cartel, which produces about 40 percent of the world’s oil, said that if Europe’s […]

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OPEC Says World Oil Demand Is Slowing

Posted October 11th, 2011 at 12:00 pm (UTC-5)
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The oil-producing OPEC cartel has for the fourth straight month trimmed its estimate of world demand for oil for the rest of this year and in 2012. The 12-nation Organization of the Petroleum Exporting Countries said Tuesday that the demand for oil will still grow this year and next, but not by as much as […]

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ADB Forecasts Slower Economic Growth for East Asia

Posted July 28th, 2011 at 12:45 am (UTC-5)
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The Asian Development Bank says the East Asian region will grow at a more moderate pace this year and next due to rising inflation and sovereign debt woes in the United States and Europe. In a report issued Wednesday, the Manila-based lender forecasts average growth for the emerging economies of East Asia at 7.9 percent […]

Boeing Raises Aircraft Production Forecast

Posted June 16th, 2011 at 6:50 am (UTC-5)
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Boeing Corporation is raising its forecast for aircraft demand over the next two decades. Boeing says airlines will need $4 trillion in new planes over the next 20 years. The long-range forecast anticipates the delivery of 33,500 new planes by 2030. The plane-maker says it raised forecasts after passenger air traffic rose eight percent in […]

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