"Sluggish economic growth could restrict annual oil demand" to 0.9M bpd in 2012, leading to...

|By:, SA News Editor

"Sluggish economic growth could restrict annual oil demand" to 0.9M bpd in 2012, leading to average demand of 89.6M bpd, the International Energy Agency says in its latest monthly report. Growth would be capped to 0.8M bpd in 2013 for an average of 90.5M bpd. In July, worldwide supply rose 0.3M bpd M/M to 90.7M bpd, with non-OPEC nations contributing 60% of that increase.