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The IEA cuts its outlook for global Q4 oil demand by 290K bpd to 90.1M bpd, due to "persistent...

The IEA cuts its outlook for global Q4 oil demand by 290K bpd to 90.1M bpd, due to "persistent weakness" in Europe and the effect of Hurricane Sandy, which chopped U.S. consumption by 230K bpd in October. In its monthly report, the agency also lowers its 2013 growth forecast by 100K bpd to 830K bpd, which would take total consumption to 90.4M bpd.
Comments (2)
  • Is there any accuracy to these forecasts? Do traders, or anyone else for that matter, actually pay any attention to these?

     

    They remind me of the IMF forecasts, incorporating the obvious into their near term prognostications but using their longer term forecasts to foster anxiety and to score political points.
    13 Nov 2012, 08:19 AM Reply Like
  • Well i hope they are right. Would love relief at the pump, but at the same time probably means a worldwide Recession..

     

    Buy Physical metals folks..Fiat money is dying a slow death.
    13 Nov 2012, 10:49 AM Reply Like
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